UPS Acquires Coyote Logistics For $1.8bn

UPS has announced that it has entered into a definitive purchase agreement to acquire Coyote Logistics, a technology-driven, non-asset based truckload freight brokerage company for $1.8 billion from its current owner Warburg Pincus.

Expands portfolio, adding large scale non-asset based total-truckload (FTL) and transportation management services,
Supplies growth chances for UPS from high growth truck freight market expansion, Coyote organic growth, customer cross-selling, synergies for UPS purchased transportation and backhaul utilization.

CEO Jeff Silver, an industry veteran, will reportedly continue to head Coyote, as a UPS subsidiary company.