DAT Buys Convoy Platform From Flexport
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DAT Freight & Analytics is acquiring Convoy Platform from technology provider Flexport for an undisclosed sum, a little under 18 months after the seller launched the freight-matching platform.
Convoy Platform is based on intellectual property and technology Flexport acquired from Seattle-based Convoy when the digital logistics outfit shut its doors in October 2023. At the time, Convoy was ranked No. 54 on the Transport Topics Top 100 list of the largest logistics companies in North America.
Convoy Platform is set to complement DAT One, Beaverton, Ore.-based DAT’s load board. DAT One sees nearly 700,000 loads posted daily.
Big news: We’ve agreed to acquire the Convoy Platform.
This is a major step forward for brokers and carriers and marks another step in our continued investment in the future of freight.
The Convoy Platform helps you grow faster by handling the operational heavy lifting:
✅Ħ — DAT Freight & Analytics (@datfreightteam)
“The acquisition of the Convoy Platform demonstrates DAT’s ongoing commitment to enhancing network value for our customers,” DAT CEO Jeff Clementz said. “Together, we will give customers a better, broader freight-matching network, the ability to manage more loads and capture incrementally more business, and, ultimately, more choice.”
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The Convoy Platform acquisition is the second deal in fewer than three months for DAT, and its third in the last eight months. But this deal-making stretch has not come without controversy.
In May, DAT bought back-office payment specialist Outgo for an undisclosed sum. Outgo automates broker setup, invoicing, factoring and collections. However, factoring specialist OTR Solutions took its onetime partner DAT to court in the Superior Court of Cobb County in Georgia, alleging that the Outgo deal violated a non-compete clause between DAT and OTR. Factoring is a service that enables carriers to receive immediate payment for freight invoices.
The two parties settled their differences before an emergency hearing in June, with neither willing to provide further details.
Before the Outgo purchase, DAT bought Trucker Tools, a digital freight-tracking company, in a December move aiming to strengthen its real-time load visibility and freight-matching capabilities.
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