Freight marketplace Freightos acquires WebCargoNet

Freightos announced the acquisition of WebCargoNet, and in doing so claims to have created the world’s largest database of air, ocean, and land freight rates. The acquisition involved both cash and Freightos shares.

The companies announced that WebCargoNet will retain its independent brand, bringing air cargo rates online worldwide, complementing the Freightos’ AcceleRate freight rate management solution and the Freightos Marketplace. There will be no immediate changes to current offerings of either company, though over time, strategic synergies will be leveraged to serve carriers, forwarders, and shippers.

“Joining Freightos brings WebCargoNet instant scale and the capacity to rapidly advance the technologies we are bringing to market. Hundreds of global forwarders and dozens of air carriers are sure to benefit as together we continue to make freight quoting and booking online a reality”, said Manuel Galindo, CEO, WebCargoNet.

Source: Freightos