North American online freight marketplace DAT Solutions entered an agreement to acquire 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,” according to a news release.
DAT has $118 billion worth of global shipment data across multiple transportation modes and real-time spot-market transaction pricing. Combining this with FMIC’s intelligence and rate modeling expertise, the company will be able to develop new products, services and insights.
“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. This gives our customers unrivaled logistics insight and a stunning 360-degree view of the entire supply chain” Claude Pumilia, DAT president and CEO, said in the release.
Benefits of the acquisition include a source for global freight intelligence, transportation and market intelligence solutions, access to global market analytics, a team of market experts and model-based benchmarking techniques for transportation markets.
“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,” Gary Girotti, Chainalytics executive vice president of supply chain intelligence and technology products, said in the release.