FourKites, a Chicago, IL-based provider of a supply chain visibility platform, is acquiring TrackX Holdings Inc.’s (TSX.V:TKX | OTC: TKXHF | FSE :3TH) yard management solutions.
The amount of the deal was not disclosed.
Specifically, FourKites has acquired TrackX’s Yard Management, Dock Management and Gate Control solutions, which are hardware-agnostic and integrate with ERP and WMS systems, as well as RFID and IoT sensors.
The acquisition will enable FourKites to create Dynamic YardSM, a new supply chain visibility solution that extends real-time visibility into the yard.
By integrating FourKites real-time logistics data and predictive ETAs with TrackX’s yard management products, enterprises will be able to proactively manage yards and warehouses based on real-time signals from trucks in-transit and trucks on-site.
Led by CEO Mathew Elenjickal, FourKites provides a real-time supply chain visibility platform with participation from more than 400 of the world’s largest shippers and their carrier and broker partners. That includes top consumer packaged goods companies and top food and beverage companies. Integrating this data set with previously siloed yard management systems will allow facility managers to anticipate bottlenecks, accelerate gate-in and gate-out processes, shorten on-site time for drivers and optimize inventory across multiple sites – reducing dwell times and increasing operating margins to the benefit of everyone in the supply chain.
Led by Tim Harvie, President and CEO, TrackX Holdings is a Denver, Colorado-based enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX’s Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IoT) by providing unique item level tracking, workflow processing, event management, alerting and analytics to deliver solutions across a growing number of industries. TrackX serves a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.