The Brazilian freight marketplace Frete.com announced it acquired InterSite in a cash and stock deal. InterSite is a transportation management software provider focused on managing the transportation of agricultural commodities. The terms of the deal were not disclosed.
Frete.com became a unicorn startup in November 2021, and it is today the largest trucking marketplace in Latin America. The startup recently announced it will allocate approximately $55M dollars for acquisitions, focusing on technology and software logistics companies.
InterSite is one of Brazil’s most relevant transportation management software companies. It provides a logistics management platform for users to manage inventory, create invoices, and more. With approximately 10,000 customers, InterSite issues per year documents for around 4 million truck trips.
With this acquisition, InterSite will be able to invest heavily in developing its Transportation Management System, called SAT. The startup’s founders will remain in the leadership positions of InterSite’s operation independently.
Frete’s CEO Federico Vega shared that the startup is searching for other potential acquisitions, specifically fintechs, software providers, and data science firms.