Newgistics Acquires LMI

Newgistics Inc., an Austin, Texas-based provider of returns management solutions, has acquired Logistics Management Inc., a Fairhaven, Mass.-based provider of transportation brokerage services for less-than-truckload shipping. No financial terms were disclosed. Newgistics has raised around $45 million in VC funding since its 1999 inception, from firms like Austin Ventures, R.R. Donnelley & Sons and StarVest Partners.