According to a statement released by Transflo, 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 a provider of end-to-end supply chain solutions for shippers, freight brokers, carriers, and drivers in North America.
“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,” Adelman continued. “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.”
Transflo provides the transportation supply chain with a digital platform that helps shippers, freight brokers, carriers, drivers and receivers improve communication, gain load visibility, expedite payment processing and automate the back office. The merger with Microdea will enhance the digitized end-to-end automated document workflow within the supply chain for all of these constituents, according to the company statement.
“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 of 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 the company’s deal advisors. 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. Financial terms of the agreement were not disclosed.