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…