The Chicago freight broker Echo Global Logistics Inc. has agreed to acquire ITS Logistics, a third-party logistics provider (3PL) based in Reno, Nevada, saying the combined companies will become a transportation and logistics platform with revenue of $5.4 billion.Founded in 1999, ITS Logistics is known for its drop trailer and trailer pool program, DropFleet, as well as its capabilities in dedicated capacity, intermodal and drayage solutions, freight security, omnichannel fulfillment, and sustainability-focused transportation strategies, the firms said.Echo said its technology platform leverages automation, machine learning, and artificial intelligence to support pricing, capacity sourcing, shipment execution, and exception management.Terms of the deal were not disclosed, but ITS Logistics will continue operating with its existing leadership team.”Joining forces with Echo marks an exciting new chapter for ITS Logistics,” ITS CEO Scott Pruneau said in a release. “Echo’s truckload brokerage scale, managed transportation platform, strong cross-border capabilities, and broad multimodal offering — combined with its technology platform and AI-driven innovation — will enable us to elevate our service offerings and provide enhanced value to our customers. Together, we will be well equipped to help customers navigate the increasing complexity of today’s supply chain, offering smarter, more connected execution and powerful solutions that drive results.”
