Freight audit firms Trax Technologies and Veraction announce merger

Freight audit and payment provider Trax Technologies will merge with transportation spend management and freight audit solutions provider Veraction in a move that will create a unified technology platform that covers all shipping modes and offers transportation spend management analytics, the companies said today.

The integrated company will be known as Trax Group Inc. and be led by CEO Chris Connell, who currently holds that same title at Veraction, the firms said. Combining the portfolios of Memphis-based Veraction and Scottsdale, Ariz.-based Trax Technologies will allow the integrated company to help customers manage and control their transportation spending, allowing shippers to access both the company's parcel and freight expertise and its global footprint, they said.

Operating as Trax Group, the company will operate offices in the U.S., Europe, Asia, and Latin America, and will help its global logistics customers to reduce risk, save money, and improve efficiency through the application of data science and software as a service (SaaS) technologies, the firm said.