INTTRA Acquires Avantida
Shipping electronic marketplace INTTRA has acquired Avantida, the European empty container management company for ocean carriers.
Avantida is headquartered in Belgium and currently conducts business in seven European countries: Belgium, The Netherlands, Germany, France, Italy, Portugal and Spain. The company’s core business is digitized, automated container reuse and repositioning, and industry experts estimate that empty container positioning costs the ocean shipping industry up to $20 billion a year, approximately 40 percent of handling costs.
Over 700,000 container orders are initiated on the INTTRA platform each week, representing approximately 25 percent of global ocean container trade. The company generated 16 percent growth in 2016 over 2015 in container orders, which include bookings, shipping instructions and shipping orders. The company processed 38.5 million container orders on its platform. Containership sailings in the industry rose by just three percent in 2016, according to Container Trade Statistics. Also in 2016, INTTRA introduced its cloud-based eVGM Service as a SOLAS VGM compliance solution.
“Avantida, an industry leader in digitized container logistics, has products and customer bases that are highly complementary to those of INTTRA,” said INTTRA CEO, John Fay. “Acquiring Avantida advances our strategy of extending our reach into the intermodal value chain, enabling INTTRA to better serve our customers. With cutting-edge, cloud-based technology and a unique business model, Avantida enhances efficiency and delivers substantial value to carriers, shippers and other landside transport companies.”
“INTTRA’s global network will enable us to accelerate product adoption in Europe and around the world,” said Luc De Clerck, Avantida’s CEO. “Our combined offering will further benefit numerous stakeholders within and beyond ocean shipping and container logistics, including reducing CO2 emissions and congestion at ports and surrounding communities.”
Terms of the transaction were not disclosed.