INTTRA, the world’s leading shipping trade platform, is being acquired by E2open, cloud-based supply chain solutions provider, INTTRA announced yesterday. The combination of the two is expected to create an integrated global supply chain and logistics operating network with access to worldwide ocean container capacity and information.
INTTRA was founded back in 2001 as a global provider of e-commerce solutions by the leading ocean carriers: CMA CGM, Maersk, P&O Nedlloyd, MSC, Hamburg Sud, Hapag-Lloyd and UASC. The main idea was to create a standard electronic container booking system for the shipping industry, absolutely neutral. During the following years, INTTRA has grown into the world’s largest ocean shipping platform across 177 countries with over 35,000 active shippers, 60 carriers and 150 integrations with transportation management and port system software partners.
In March 2017, INTTRA acquired Avantida, a European technology provider specialized in optimizing the handling of empty containers. With this move, INTTRA extended its ocean operations into land-based activities and now can address container reuse and repositioning for carriers, transport companies, terminals, depots, and others.
Today, one out of every four ocean containers shipped globally is booked through the INTTRA platform, and the platform has access to carriers covering nine out of ten containers globally.
E2open is the largest provider of cloud-based networked supply chain solutions. Its portfolio of applications allows users to plan, collaborate, and execute their end-to-end operations in an efficient and cost-effective way. The company says it has more than 70,000 partner companies and 200,000 users, many of them biggest brands and manufacturers from various industries.
Commenting on the transaction’s goals, Michael Farlekas, chief executive officer of E2open, says: “We aim to bridge the gap between manufacturing and logistics with execution capabilities on a unified platform with real-time end-to-end visibility.”
INTTRA, which was initially set up as a joint venture between the above-mentioned carriers, sold its 51% to ABS Capital Partners in January 2010, with the remaining 49% still owned by the founding shipping lines. Now, although the deal’s terms are not disclosed, E2open is acquiring 100% of the business, informs The Loadstar quoting John Fay, INTTRA Chief Executive Officer. The Loadstar understands that INTTRA will maintain independent branding and manage its side of the business as a subsidiary of E2open.
The transaction is expected to close by year end 2018 after receipt of regulatory approval.