SHELTON, Conn., Feb. 25, 2020 (GLOBE NEWSWIRE) -- 3Gtms, LLC (“3Gtms”), a global provider of Tier 1 transportation management software (TMS), today announced that it has acquired Pacejet, a provider of enterprise cloud-based, multi-carrier shipping software. Terms were not disclosed.
3Gtms develops and delivers the next level in transportation and logistics software. The 3G-TM platform counts multi-mode enterprise-class order management, planning, optimization, routing, rating, tendering, booking, tracking and settlement amongst its extensive capabilities. The company’s stellar references prove that when failure is not an option, shippers, 3PLs and brokers alike turn to 3Gtms.
Sumeru Equity Partners (“SEP”) invested in 3Gtms nearly one year ago—a period in which 3Gtms has experienced strong success in growing the business, adding to its team and scaling operations. Sumeru’s further investment in Pacejet and its innovative cloud-based global shipping software will extend the 3G-TM platform to access more market channels and to more comprehensively serve customers’ complex parcel shipping needs.
“3Gtms is laser-focused on delivering an exceptional customer experience in addition to providing high-value generating transportation management and execution solutions that evolve with the times. Pacejet reflects the same values and goals,” said Mitch Weseley, CEO and founder of 3Gtms. “With this strong foundation in place, as well as with SEP’s partnership, we are confident in our collective teams’ ability to realize the significant potential in market expansion as well as existing customer and employee opportunity that the joining of our two companies represents.”
“The complementary strengths of Pacejet and 3Gtms, along with the alignment of values and the services we can deliver together, open up new possibilities for our customers,” said Bill Knapp, former CEO and now general manager of Pacejet, a division of 3Gtms. “We’re thrilled to bring our solution to a larger market and to offer Pacejet’s customers new opportunities for leveraging the full power of 3G-TM to better manage and optimize their transportation operation.”
“We are excited to bring these two companies together, rapidly accelerating their respective productive roadmaps,” said Mark Haller, principal at SEP and 3Gtms board director. “Integrating 3Gtms’ high scale, ultra-flexible Tier 1 TMS platform with Pacejet’s best-in-class shipping execution solution will enhance our capabilities to best serve our current and future customers’ complex transportation and logistics needs.”
About 3Gtms, LLC
3Gtms, LLC is the fastest growing Tier 1 transportation management system (TMS) provider and is committed to giving mid-to-large shippers and logistics service providers a competitive advantage through technology. Whether you move $5 million or $5 billion in freight, the 3G-TM solution seamlessly manages the full transportation lifecycle, including transportation planning and optimization, execution and settlement, empowering customers to make better shipping decisions while meeting their service goals. 3Gtms’ reputation for being a trusted partner is reflected in customer satisfaction and retention rates that are unmatched in the TMS industry. For more information, visit: www.3gtms.com.
About Pacejet
Pacejet, a division of 3Gtms, LLC is an innovative, cloud-based global shipping software provider that helps businesses transform shipping from a business necessity into a strategic advantage. Its shipping software integrates seamlessly with customers’ existing systems to increase efficiency by automating the shipping process, find the best price for every shipment, and grow businesses by optimizing the experiences of customers’ customers. With staff located throughout the U.S, Pacejet has a knowledgeable and dedicated team who understand supply chain and logistics. Learn more at https://www.pacejet.com.
About Sumeru Equity Partners
Sumeru Equity Partners is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services and hardware. The firm employs a growth-oriented partnership model with technology companies and typically invests $25-200 million per transaction. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake. Sumeru Equity Partners utilizes extensive operating and investment experience in partnership with management teams to drive company growth and build strategic value. For more information please visit www.sumeruequity.com.