Freight Audit Providers Trax Technologies and Veraction Announce Merger
Global freight audit and payment provider Trax Technologies will merge with transportation spend management and freight audit solutions provider Veraction to create a single global technology platform across all shipping modes and a suite of transportation spend management analytics.
The integrated company will retain the Trax name and combine the leadership teams of both companies. Chris Connell, former CEO of Veraction, leads the combined company as CEO of Trax Group Inc. Trax Group will deliver a technology platform that includes advanced analytics to help customers manage and control their transportation spending, allowing shippers access to the company’s parcel and freight expertise and its global footprint.
“Many of the world’s largest shippers have already turned to Trax and Veraction to better control their transportation costs and save money,” said Chris Connell, “This combination brings together the two clear leaders in this industry with rich legacies, innovative solutions and deeply talented teams with an intense customer focus. Our combined company will set a new standard for transportation spend management solutions and freight audit.”