TMW Systems has acquired fellow trucking software provider Innovative Computing Corp., the companies announced Tuesday.
Terms of the deal were not disclosed. TMW said in a statement that it purchased all outstanding shares of privately held BetaZone Inc., parent of ICC, on Nov. 24.
The acquisition was effective Tuesday, the companies said.
“This is about scale,” said David Wangler, president of TMW. “We think we can put a larger percentage of resources into creating and delivering solutions for the ICC product line than they [ICC] have been able to do.”
Closely held TMW had $65.5 million in revenue in 2007, the latest year for which data were available. Revenue figures for ICC, Brentwood, Tenn., were unavailable.
TMW, Beachwood, Ohio, said the combined companies’ 1,800 customers represent about $62 billion in annual freight spending.
Following the acquisition, TMW said it will keep the ICC brand name intact and will continue to support ICC’s software products and “continue to update them,” Wangler said.
Deborah Betancourt, ICC’s vice president of operations, will remain with the combined company as vice president and general manager of ICC, reporting to Wangler.
ICC founder Ernie Betancourt, meanwhile, will leave ICC and begin “a new venture that will continue to be aligned with TMW,” the companies said.
TMW’s last acquisition before ICC was Integrated Decision Support Corp. in 2007.
By Dan Leone
Staff Reporter
