Posted Date : 2015-07-31
United Parcel Service Inc. has acquired the freight brokerage Coyote Logistics for $1.8 billion, the company said Friday. Rumors of the deal for Chicago-based Coyote , which is a non-asset-based provider of transportation services, broke last week. Reports indicate UPS was primarily interested in Coyote’s proprietary freight technology, which would help UPS better utilize its capacity. UPS is acquiring Coyote from private equity firm Warburg Pincus. Coyote had revenues of $2.1 billion in 2014, placing it among the upper echelon of North American freight brokers. According to UPS, the company has more than 35,000 trucking companies in its brokerage network and arranges 6,000 loads per day ."""