INTTRA, a Parsippany-based ocean shipping electronic marketplace, announced Tuesday it has acquired Avantida, a European empty container management company for ocean carriers.
INTTRA, a Parsippany-based ocean shipping electronic marketplace, announced Tuesday it has acquired Avantida, a European empty container management company for ocean carriers.
Avantida, based in Belgium, currently conducts business in seven European countries.
INTTRA’s entry into the landside container logistics market will maximize value for its existing and new clients, it said. Industry experts said empty container positioning costs the ocean shipping industry up to $20 billion a year.
Avantida, based in Belgium, currently conducts business in seven European countries.
INTTRA’s entry into the landside container logistics market will maximize value for its existing and new clients, it said. Industry experts said empty container positioning costs the ocean shipping industry up to $20 billion a year.
“Avantida, an industry leader in digitized container logistics, has products and customer bases that are highly complementary to those of INTTRA. Acquiring Avantida advances our strategy of extending our reach into the intermodal value chain, enabling INTTRA to better serve our customers. With cutting-edge, cloud-based technology and a unique business model, Avantida enhances efficiency and delivers substantial value to carriers, shippers, and other landside transport companies,” INTTRA CEO John Fay said in a statement. “I am very pleased to welcome Avantida’s team to the INTTRA family and I am confident that they will continue to execute on their mission supplemented by INTTRA’s resources.”
Avantida will operate as an INTTRA-owned company.
“We are excited to join forces with INTTRA,”Luc De Clerck, Avantida CEO, said in a statement. “Together we can leverage technology innovation to digitize and transform a multi-billion dollar market that is central to global trade. INTTRA’s global network will enable us to accelerate product adoption in Europe and around the world. Our combined offering will further benefit numerous stakeholders within and beyond ocean shipping and container logistics, including reducing CO2 emissions and congestion at ports and surrounding communities.”
Financial terms of the deal were not disclosed.
Avantida will operate as an INTTRA-owned company.
“We are excited to join forces with INTTRA,”Luc De Clerck, Avantida CEO, said in a statement. “Together we can leverage technology innovation to digitize and transform a multi-billion dollar market that is central to global trade. INTTRA’s global network will enable us to accelerate product adoption in Europe and around the world. Our combined offering will further benefit numerous stakeholders within and beyond ocean shipping and container logistics, including reducing CO2 emissions and congestion at ports and surrounding communities.”
Financial terms of the deal were not disclosed.
