Less-than-truckload and transit technology services provider SMC3 said it has acquired Transportation Costing Group (TCG), a provider of activity-based cost modeling software and other profitability management tools for LTL and truckload shippers.
Financial terms of the deal were not disclosed.
TCG was established in 1982. SMC3 said that TCG’s business has seen steady growth since the economic downturn in 2008, with TCG predicting a new revenue record for 2015. And SMC3 added that TCG’s “cost-information system software…considered by its users to be the gold standard of the industry.” Current TCG clients include eight of the top 10 domestic LTL freight carriers, many of whom are SMC³ members, the company noted.
“There are numerous synergies between SMC³ and TCG,” Jack Middleton, SMC³’s CEO, said in a statement. “Adding the industry-leading carrier costing software to our current portfolio of pricing and transit-time products will allow SMC³ to continue its path of sustainable growth.”
An SMC3 official told LM that this deal “signals the expansion of our offerings to truckload customers. Historically, we’ve been working exclusively with LTL carriers. By acquiring TCG, we can now offer our carrier members a new product.”