Xeneta AS has acquired maritime and supply chain data company eeSea, the latest deal in a year marked by a number of high-profile acquisitions in the freight analytics business and broader supply chain services.
No terms were disclosed.
Adding eeSea’s global schedule, transit time and reliability data to Xeneta’s freight rate data will enable cargo-owner procurement teams to manage contracts and suppliers based on service levels, and not just cost, Xeneta said in a release.
“Today marks a key milestone for Xeneta; coming together with eeSea, and combining our data and skills, furthers our shared mission to bring transparency and efficiency to how ocean freight is bought and sold,” said Patrik Berglund, chief executive of Oslo-based Xeneta, in the release. “Our combined data sources and coverage will provide customers with more actionable intelligence to control freight spend, as well as delivery reliability.”
Xeneta, with approximately 242 employees and estimated annual revenue of $79.3 million, said it counts Nestlé, Volvo, and Coca-Cola among its clients.
Founded in 2015, eeSea offers real-time vessel tracking and forecasting, reliability and transit time analytics, as well as strategic insights on trade lane capacity, including cancelled sailings.
“I genuinely believe in Xeneta’s vision, and everyday drive and commitment, to changing the way ocean freight is negotiated,” said Founder and CEO Simon Sundboell of eeSea, based in Copenhagen. “A true partnership between carriers and cargo owners relies not only on the freight rates paid, but also on the operational performance provided by the carrier, such as transit times, reliability, cancelled sailings, weekly stability and schedule forecasting accuracy. I’m really looking forward to the combined offering that Xeneta and eeSea will provide to support this need.”
This year, in the software and technology arena, WiseTech Global acquired E2open in a $2-billion agreement, while Aptean acquired Logility Supply Chain Solutions in a deal valued at $442.75 million. In March Descartes Systems Group acquired 3GTMS in a transaction valued at $115 million.
Consultant McKinsey in a February report attributed growing global challenges to the wave of acquisitions as industry builds resilient, technology-driven, and efficient supply chains. Mergers and acquisitions, McKinsey said, provide an effective means to manage technological change, economic uncertainty, and evolving markets.
Find more articles by Stuart Chirls here.
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