XPO says planned spin-off will be called RXO
3PL takes next step in plans to separate its brokered transportation business from its LTL business, creating a standalone tech-enabled platform for truck brokerage services in North America.
Third-party logistics giant XPO Logistics said today that RXO will be the name of the previously announced spin-off of its tech-enabled brokerage platform, bringing the company a step closer to creating the standalone entity.
XPO announced plans to separate its North American brokered transportation service from its less-than-truckload (LTL) business in March, creating a new platform for truck brokerage services in North America. The spin-off includes a digital freight marketplace and access to truckload capacity, with asset-light offerings for last-mile logistics, managed transportation, and global forwarding. The remaining company will be a “pure play” North American LTL business, the company said.
XPO leaders said the RXO name reflects its commitment to providing “reliability multiplied by outperformance.” RXO will go to market with the tagline: “Massive capacity. Cutting-edge technology.”
“Our spin-off now has a name—RXO—bringing it one step closer to becoming a standalone industry leader,” Brad Jacobs, XPO’s chairman and CEO, said in a press release Tuesday. “Our best-in-class truck brokerage business will be the keystone of RXO’s asset-light platform, poised to continue to take share of a growing market.”
XPO said it expects to complete the spin-off in the fourth quarter.
