Sep 01, 2016: Freightos, the world’s online freight marketplace has acquired Spain’s WebCargoNet, the world’s largest air cargo rate management provider.
The acquisition that involved both cash and Freightos shares is likely to help Freightos expand its database of air, ocean, and land freight rates.
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 are no immediate changes in the current offerings of any of the companies. Over time, strategic synergies will be leveraged to provide more comprehensive and innovative online solutions to carriers, forwarders, and shippers.
Freightos, with WebCargoNet, has accumulated well over 200 million freight pricing data points, establishing the largest freight rate database in the world.
Both carriers and forwarders selling their services and importers and exporters buying products would be benefitted with the convergence of data, resulting in smoother world trade.