Strattam Capital, which will buy a majority of Trax’ shares for an undisclosed price and provide an additional $10m of growth capital, is investing in partnership with Trax’s current management team, led by Founder and CEO J. Scott Nelson and Executive Chairman Brian McCarthy.
The transaction is subject to customary closing conditions and is expected to take place in the first quarter of 2015.
The company intends to use the funds for strategic initiatives, including expansion of its products and services.
Trax Technologies provides an open SaaS technology platform that identifies and fixes inaccuracies in logistics data by applying big data from multiple sources, continuous assurance and other analytical tools.
The company operates offices in the U.S., Europe, Asia and Latin America.
Customers include blue-chip, global organizations.