The transaction will bolster Transflo’s multi-channel capabilities for the transportation and logistics supply chain
Tampa, FL, October 5, 2020 – Transflo, a mobile, telematics, and business process automation provider for the transportation industry, announced today that it has acquired Microdea, a leader in document management and workflow automation solutions for the transportation and logistics industry. The transaction represents a significant step toward Transflo’s goal of broadening its capabilities to meet the fast-growing demand for digitized workflows within the transportation supply chain and will expand Transflo’s presence in the Canadian market.
As a result of the transaction, Transflo will combine its operations with Microdea’s employees, customer relationships, and products, including Synergize, Microdea’s enterprise document management software. The combined Business will operate under the Transflo brand as the leading provider of end-to-end supply chain solutions for shippers, freight brokers, carriers, and drivers in North America. Financial terms were not disclosed.
“We are extremely excited about joining forces with Microdea and adding its impressive product suite and client roster under the Transflo brand umbrella,” said Frank Adelman, CEO of Transflo. “The transaction is a strategic step in growing our footprint in the key Canadian supply chain sector and will drive additional efficiencies and solutions to the market today.”
Founded in 1991, Transflo provides the transportation supply chain with one of the largest digital platforms that helps shippers, freight brokers, carriers, drivers, and receivers improve communication, gain load visibility, expedite payment processing and automate the back office. This strategic collaboration will enhance the digitized end-to-end automated document workflow within the supply chain for all of these constituents.
“Microdea has done an outstanding job in providing value and significant ROI to their customers. We hope to capitalize on those areas where they excel,” added Adelman.
“The joint strength of Microdea and Transflo will solidify our position as a leading provider of best-in-class mobile and back-office workflow automation technology solutions in the transportation industry,” said Jonathan Cowie, General Manager, Microdea. “We’re excited to join forces and help carriers and brokers get more value from their Microdea and Transflo technology investments.”
The Transflo Digital Ecosystem incorporates telematics and the Transflo T-Series ELD, which is connected to both the vehicle and Transflo Mobile+ app via a driver’s mobile device. The company’s suite of solutions includes Electronic Bills of Lading (EBOL), Electronic Proof of Delivery (EPOD), Velocity+ broker services, document scanning, freight visibility, truck navigation, and other features such as image optimization and digital workflow management tools.
Bennett Jones LLP and Simpson Thacher & Bartlett LLP served as legal advisors to Transflo while DC Advisory LLC and KPMG LLC served as deal advisors to the company.
Stikeman Elliott LLP and Woods Oviatt Gilman LLP served as legal advisors to Microdea while Ernst & Young LLP and principals of Klar Ventures LLC served as accounting and financial advisors to Microdea.
Microdea is a document management and back office automation software solution provider that has been serving the North American transportation and logistics industry for 25 years. Over 400 transportation companies use Microdea’s technology solutions to speed up cash flow, increase profitability and accelerate growth. To learn more visit: www.microdea.com
Transflo® by Pegasus TransTech is a leading mobile, telematics, and business process automation provider to the transportation industry in the United States and Canada. Transflo’s mobile and cloud-based technologies deliver real-time communications to fleets, brokers, shippers, and commercial vehicle drivers, and digitize 800 million shipping documents a year, representing approximately $84 billion in freight bills. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow, and reduce costs. Headquartered in Tampa, Florida, USA, Transflo is setting the pace for innovation in transportation software. For more information, visit www.transflo.com.