Strattam Capital has closed its previously announced acquisition of a majority stake in Trax Technologies Inc, a logistics SaaS platform. No financial terms were disclosed for the transaction that was done in partnership with Trax’s current management. William Blair & Company served as financial adviser to Trax.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Trax Technologies, Inc., the provider of a leading global logistics SaaS platform, announced today that Strattam Capital has completed its previously disclosed majority investment in Trax, made in partnership with Trax’s current management team, led by Founder and CEO J. Scott Nelson. The terms of the transaction were not disclosed.
“With this transaction complete, we are excited to continue building the Trax platform and services in support of our current and future global customer base,” said Nelson. “This investment will support further development, deployment, and support of existing and new products and services benefiting both buyers and sellers of logistics services.”
About Trax Technologies, Inc.
Trax Technologies, Inc. is an open SaaS technology platform that refines, completes and reconciles logistics data from multiple sources. Trax adds value by harmonizing the information generated by millions of transactions, which its clients then use to reduce the high cost of industry efficiency, reduce uncontrolled risk, improve financial reporting and make better decisions through improved data analytics. Trax operates offices in the U.S., Europe, Asia and Latin America. For more information, visit www.traxtech.com.
About Strattam Capital
Strattam Capital is focused exclusively on private equity investments in core enterprise information technology and services. Founded and managed by experienced technology investment professionals, Strattam Capital uses its knowledge and resources to make control equity investments in companies with enterprise values of up to $150 million. The team applies an active, conviction-driven approach in close collaboration with management teams. More information is available at www.strattam.com.
Strattam Capital was represented by Wilson Sonsini Goodrich & Rosati, Professional Corporation. Trax was represented by Osborn Maledon, with William Blair & Company acting as Trax’s exclusive financial adviser on this transaction.