Echo Global Logistics (ECHO) to Acquire Command Transportation in $420M Deal
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Echo Global Logistics to Acquire Command Transportation
April 21, 2015 7:01 AM EDTCHICAGO, IL and SKOKIE, IL -- (Marketwired) -- 04/21/15 -- Echo Global Logistics (NASDAQ: ECHO) ("Echo" or the "Company") today announced that it has entered into a definitive agreement to acquire Command Transportation, LLC ("Command"), one of the largest privately held truckload ("TL") brokers and non-asset based transportation providers in the United States. Echo will acquire all of the outstanding membership units of Command for approximately $420 million, subject to post-closing adjustments for working capital and cash. $25 million of the purchase price will be paid in the form of Echo common and restricted stock. Command had 2014... More
Echo Global Logistics Reports Record First Quarter Results; Revenue up 14% Year Over Year
April 21, 2015 7:00 AM EDTCHICAGO, IL -- (Marketwired) -- 04/21/15 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation management services, reported today financial results for the quarter ended March 31, 2015.
"Echo continues to deliver strong results, and this quarter marked another significant increase in volume," stated Doug Waggoner, Chief Executive Officer of Echo. "A softer truckload market and lower fuel costs offset our top line growth, but our strategy and execution continues to drive market share gains," said Waggoner.
Q1 2015 Highlights
Total revenue increased by 14% to $283 million from the... More