Florida, the U.S-based leading company that provides supply chain, dedicated transportation, and fleet management solutions, Ryder acquired Baton. The acquisition was finalized on August 31, 2022. However, the company reported the news on September 2, 2022. Meanwhile, the amount of the deal was not disclosed.
As part of the deal, Baton’s cofounders Andrew Berberick and Nate Robert join Ryder as co-chief product and technology officers.
Purpose of acquisition by Ryder
The latest acquisition of Baton extends Ryder’s collaboration with Baton. It follows Ryder’s corporate venture capital fund, RyderVentures, which invested in the tech firm early last year.
With its resources of USD 9.7 billion logistics company, Baton intends to develop Ryder’s portfolio of technology products further.
Baton’s core leadership team, including Erik Malin, joins as a group director of operation for Ryder. Ryan Houlihan and Jason Liu will intend to serve as the director of engineering.
What the Ryder official has to say
Robert Sanchez, chairman and chief executive officer of Ryder, said, “The acquisition of Baton is consistent with our strategic focus to continue to grow our supply chain and transportation solutions businesses, and part of that strategy is to bring new technology-driven solutions to market. With Baton, we gain the talent and the team of product developers and technologists behind the Baton logistics platform, who will lead the innovation and development of the next generation of customer-facing technologies at Ryder.”
Karen Jones, chief marketing officer and head of new product development for Ryder, further added, “Baton’s technology is what initially caught our eye, but in working with Andrew and Nate over the past year and watching as they evolved their platform, I think we all realized that it was just the beginning of so much more. And by joining forces, we can tackle a host of supply chain disruptions by building a new suite of products leveraging their existing tech platform. Andrew and Nate are exceptional talents, and we’re excited about the possibilities and the value we can create for Ryder customers.”
What Baton cofounders have to say
Andrew Berberick, the cofounder of Baton, said, “We started this journey with Baton back in 2019 with a mission to apply cutting-edge technology to optimize transportation networks, and we’re proud of our success in that area. Now, in working for Ryder, we have the opportunity to broaden our scope and develop next-gen technologies to optimize supply chains from end-to-end.”
Nate Robert, the cofounder of Baton, said, “We are excited to join forces with a logistics giant like Ryder that is equally focused on the industry’s future. We believe the opportunities for collaboration and innovation across the supply chain are exponential.”
About Ryder
In 1933, James Ryder brought the company into existence. It operates as the leading logistics and transportation company. The company has a global presence and serves throughout regions such as the United States, Mexico, Canada, and the United Kingdom. Nearly 239,000 commercial vehicles are under its management. Ryder operates more than 330 warehouses that cover more than 80 million square feet.
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