Third-party logistics provider Transplace has acquired trucking technology platform Lanehub, the companies said Tuesday. The acquisition takes effect immediately, officials said. Financial terms of the deal were not disclosed.

Dallas-based Transplace said the acquisition extends its technological capabilities for improving fleet utilization and supply chain optimization. 

Lanehub is a cloud-based platform that encourages shipper-carrier collaboration by automatically identifying and connecting companies that have complementary freight lanes to save on shipping expenses. The software focuses on matching recurring freight lanes consistently, helping companies reduce transportation costs, increase fleet revenue, and improve overall carrier service and performance, the companies said. Lanehub's network includes more than 150 shippers, 250 carriers, 180,000 lanes, and more than $23 billion in truckload spend, the companies also said.

"The strategic acquisition of Lanehub reinforces our mission to offer our customers the most advanced technologies, giving them a competitive advantage in the marketplace," Frank McGuigan, Transplace COO, said in a statement. "Lanehub's customer base and experience in the consumer-packaged goods, food, retail, manufacturing, and automotive industries are highly complementary to our business. By joining our software solutions, we can create incredible opportunities to connect and convert traditional one-way moves into more collaborative round trips, significantly reducing empty miles and poor asset utilization. Unifying our teams and technologies is a win for all involved."