DAT Freight & Analytics on Monday said it has agreed to acquire the Convoy Platform from Flexport. Terms of the deal were not disclosed.
Flexport acquired Convoy's technology and related intellectual property in October 2023 and launched the Convoy Platform as a freight-matching service for all brokers in April 2024. Its acquisition by DAT adds automation and digital freight-matching technology to DAT's product portfolio.
"Together, we will give customers a better, broader freight-matching network, the ability to manage more loads and capture incrementally more business, and ultimately more choice," said DAT President and CEO Jeff Clementz.
DAT plans to integrate the Convoy Platform into its DAT One product, allowing brokers to access both automated and hands-on freight-matching options, and giving carriers a faster, easier way to find quality loads from trusted brokers, supported by DAT’s scale and reach, the company said.
In less than a year, DAT has acquired Trucker Tools, a provider of load visibility, automated booking, digital freight matching, and carrier engagement services, and fintech and factoring service, Outgo.
Convoy's benefits to DAT
Convoy engineers, product experts, and operations professionals will continue to be led by Bill Driegert, who will join DAT’s executive leadership team.
The Convoy Platform’s proprietary technology uses machine learning and AI models to verify carriers on the network and block malicious actors. With these advanced security features built in, brokers can reduce their risk of fraud and access a trusted network of carrier capacity, all while increasing their efficiency and growing their business.
The Convoy Platform is recognized for high carrier satisfaction and usability. Today, nearly 30,000 carriers — primarily owner-operators and small trucking companies— use the app to find loads, manage paperwork, receive payments, and more.
Every carrier on the Convoy Platform is eligible to get paid via QuickPay. It’s easy to use and available on every load on the platform, providing another option for fast payouts to carriers.
