PORTLAND, Ore.,—DAT Solutions, North America's leading online freight marketplace, announced today 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 as the leader 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 DAT president and CEO Claude Pumilia. “This gives our customers unrivalled logistics insight and a stunning 360-degree view of the entire supply chain.”
Key benefits of the FMIC acquisition:
● Definitive go-to source for global freight intelligence.
● One-stop shop for trusted transportation pricing and market intelligence solutions, including RateView, FMIC and Pulse products.
● Access to global market analytics on truckload, intermodal, LTL and other modes of transport.
● Team of industry-leading market experts, including Dr. Inam Iyoob and Dr. Chris Caplice, Executive Director of MIT Center for Transportation and Logistics.
● Model-based benchmarking techniques for transportation markets, enabling total geographic coverage across all lanes and modes, without exposing companies' actual contracted rates.
“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 Chainalytics EVP of Supply Chain Intelligence and Technology Products Gary Girotti.
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