Mercator purchases Catapult International
Mercator received financial backing from Warburg Pincus, an equity firm specializing in growth investing, for the acquisition.
"To build upon our already strong position in the aviation technology-enabled solutions market, Mercator has been looking for a platform that provides the right extension into the ocean and ground carrier market,” Mercator's Executive Chairman David Tibble said. “Catapult is key to our strategy of optimizing critical transportation processes through an unparalleled combination of technology, business process outsourcing, analytics and data management. With the Catapult solution set, we will enable enterprises to make smarter, real-time decisions at that point in the transportation lifecycle where accurate and fast quotation can make the difference between profit and loss on a shipment."
Under the agreement, Catapult will sustain its brand and management under a new name – Catapult, a Mercator company.
"In leveraging their significant technology and aviation experience as well as track record of developing market-leading solutions, we believe that Mercator is the right firm to unleash Catapult's potential in the air/ocean/ground transportation management sector,” Catapult's CEO Matt Motsick said. “We will provide broader functionality across the multi-modal logistics industry delivering deeper efficiencies for operations."
Financial details of the acquisition were not announced.