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DAT Freight & Analytics is acquiring Convoy Platform from Flexport for an undisclosed sum, a little under 18 months after the seller launched the freight-matching platform.

A potentially explosive June 17 emergency hearing in the Superior Court of Cobb County in Georgia was canceled after the two companies settled. Neither provided details on what it involved.

OTR alleges DAT’s acquisition of Seattle-based Outgo and subsequent actions breach binding agreements between the erstwhile partners and are causing harm to OTR’s business.

The trucking industry is facing a tepid financial outlook amid volatile market conditions compelled by the ongoing tariff-fueled global trade war, experts said.

In DAT’s second acquisition in six months, the Beaverton, Ore.-based company added automated invoice payment to the truckload freight marketplace and research group’s product suite.

The deal, which closed Dec. 17, brings Trucker Tools’ platform suite for freight visibility, digital load booking and carrier engagement under the umbrella of DAT’s operations.

A timeline for a rebound in freight rates and market conditions remains muddy into the second half of 2024, according to executives and analysts.

From a carrier’s perspective, the way shippers procure transportation can seem arbitrary, with limited thought or imagination. In reality, their approach has become more sophisticated.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The trucking spot market has remained in a down cycle for more than a year as the number of trucks and drivers diminished — albeit at a slower rate than the decline in overall freight demand.