Echo Global Logistics Inc., a Chicago-based broker, said today it has acquired One Stop Logistics Inc., a Watsonville, Calif.-based broker, for $37.3 million, a move that expands Echo's presence in the northern California and Florida markets.

Effective immediately, One Stop will assume the Echo name, Echo said in a statement. One Stop works with truckload and less-than-truckload carriers to procure capacity on behalf of its shipper customers.

All current One Stop management and employees will remain with Echo following the acquisition, Echo said.

"One Stop is a profitable and impressive operator in the market for over-the-road transportation solutions," Echo CEO Douglas R. Waggoner said in the statement. "With this acquisition, we continue to position Echo for further growth by expanding our national coverage and leveraging our technology, our carrier network, and our service offering."