PORTLAND, Ore. — DAT Solutions, an online freight marketplace, announced June 1 that it has entered into a definitive agreement to acquire the Freight Market Intelligence Consortium (FMIC) from Chainalytics Inc. FMIC is a subscription-based benchmarking and analysis service that leverages almost $50 billion in actual freight transactions from almost 200 companies across manufacturing, retail, wholesale and third-party logistics.
The acquisition further extends DAT’s position in market and pricing intelligence, with $118 billion worth of global shipment data across multiple transportation modes that include truckload, less-than-truckload and ocean freight.
FMIC’s world-class intelligence and rate-modeling expertise in the contract market, combined with DAT’s real-time spot market transaction pricing, uniquely positions the company to develop new paradigm-shifting products, services and insights with a 360-degree view of the transportation market.
“More than a thousand shippers, brokers and carriers from across the globe directly contributing rates uniquely positions DAT to deliver the only near real-time view into freight pricing and global supply chain in North America,” said Claude Pumilia, DAT’s president and CEO. “This gives our customers unrivaled logistics insight and a stunning 360-degree view of the entire supply chain.”
In addition to a go-to source for global freight intelligence, DAT’s acquisition of FMIC provides clients with a one-stop shop for transportation pricing and market intelligence solutions, including RateView, FMIC and Pulse products, and access to global market analytics on truckload, intermodal, LTL and other modes of transport. Model-based benchmarking techniques for transportation markets, enabling total geographic coverage across all lanes and modes, without exposing companies’ actual contracted rates.
The team of industry-leading market experts includes Inam Iyoob, Ph.D, and Dr. Chris Caplice, executive director of MIT Center for Transportation and Logistics.
“The combination of FMIC’s contract rate benchmarking and analytics with DAT’s spot market data and freight matching will provide unparalleled capabilities for analytics and forecasting on the global freight and supply chain markets,” said Gary Girotti, Chainalytics’ executive vice president of supply chain intelligence and technology products.