Its CEO said the purchase will help FreightWise "serve a wider spectrum of customers" and boost already-surging sales that ranked FreightWise as the quickest-growing private company in the region in each of the last three years, according to Business Journal research. FreightWise bought the business from a publicly traded company that paid $201 million in 2020.
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The fastest-growing business in Greater Nashville has notched another on-time delivery, but this one is a first for the shipping and logistics software company.
Brentwood-based FreightWise LLC on Thursday announced it has bought a transportation management software company named Kuebix, based in Massachusetts.
Chris Cochran, co-founder and CEO of FreightWise, had signaled that an acquisition would be coming by year's end — the first in the company's nine-year existence. Cochran and company co-owners sold a minority stake a year ago to a group led by international investors, with the chief purpose of acquiring other businesses.
Cochran said the deal aims to help FreightWise "serve a wider spectrum of customers" and boost already-surging sales that ranked FreightWise as the quickest-growing private company in the region in each of the last three years, according to Business Journal research.
"Kuebix has a home here at FreightWise where it can grow and thrive," Cochran said in a statement.
Through a spokesperson, Cochran declined to disclose the purchase price. All 24 Kuebix employees are joining FreightWise, a 20% increase to headcount. Kuebix employees are coming to Nashville at the end of the month to meet the new coworkers.
FreightWise bought the 15-year-old business from Trimble Inc. (NASDAQ: TRMB). Trimble paid $201 million for Kuebix at the start of 2020. At the time, Trimble executives said 21,000 shippers used Kuebix, though not all were paying customers.
One year ago, Trimble announced that it was shutting down Kuebix by the end of 2025 as it embraced a different software platform.
"FreightWise is committed to continued investment in the Kuebix product suite," Cochran said in the statement. "We will find the right spot for all employees to advance their careers, learn from one another and integrate our collective talents."
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