Port community platform Advent eModal has announced that it is to be acquired by CargoSprint, a provider of payments and workflow orchestration systems for the cargo industry.
Founded in 1995, Advent eModal’s cloud-based platform connects logistics stakeholders to assist ports, carriers and other parties to move containers and optimise workflows. The company’s focus on the containerised freight sector is expected to complement CargoSprint’s presence in air cargo.
“We’re excited to partner with CargoSprint in this next phase of our journey,” said Parvez Mansuri, founder and former CEO of Advent eModal, who will act as Chief Strategy Officer and remain a member of the board of directors of the combined company.
“This acquisition marks a new chapter—honouring our legacy with our former partners at SSA Marine while simultaneously turning our focus towards the growth opportunities created as an independent technology company.”
“We’re eager to leverage our maritime and rail expertise to help CargoSprint, Caro and the combined leadership team to grow into new segments and deliver even more powerful solutions to the market.”
The acquisition follows a strategic investment in CargoSprint by private equity firm Lone View Capital earlier this year.
