Strattam Capital & Trax Technologies
Torch Partners has acted as exclusive financial adviser to Strattam Capital and its portfolio company, Trax Technologies on the merger with Veraction.
Trax Technologies, a leading global freight audit and payment provider, and Veraction, a leading provider of transportation spend management and freight audit solutions, have announced the merger of the two companies. The combined business will offer customers a single global technology platform across all shipping modes and a leading suite of transportation spend management analytics.
With a global reach, the combined business manages over $10bn in logistics spending across all transportation modes for more than 300 enterprise customers.
The integrated company will retain the Trax name and combine the leadership teams of both companies. Chris Connell, former CEO of Veraction, leads the combined company as CEO of Trax Group.
Trax Group will be the most capable freight audit and payment company in the world delivering a state of the art technology platform including advanced analytics to help customers manage and control their transportation spending with precision. Shippers of all sizes and across all industries will benefit from the company’s deep parcel and freight expertise as well as a significant global footprint.
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