Flexport Sells Convoy Tech Platform to DAT for $250mln

Flexport has sold its Convoy technology platform to DAT Freight & Analytics for $250 million, less than two years after acquiring it for $16 million. The platform was rebuilt and demonstrated its value as a freight execution infrastructure. DAT plans to offer the platform with zero upfront cost and will join its recent acquisitions to give users an expanded suite of tools. Flexport will continue to operate its digital brokerage business. The transaction marks a dramatic return on investment and highlights shifting strategic priorities within the logistics sector.

Flexport has sold its Convoy technology platform to DAT Freight & Analytics for $250 million, less than two years after acquiring it for $16 million. The transaction underscores a significant return on investment for Flexport and reflects strategic shifts within the logistics sector.

The Convoy Platform, originally a freight tech unicorn, was acquired by Flexport in October 2023. Over the subsequent 18 months, Flexport rebuilt and relaunched the platform as a neutral digital freight execution layer, serving brokers, carriers, and shippers across the market. This investment paid off, as the platform demonstrated its value and grew in usage and value [2].

DAT Freight & Analytics, a subsidiary of Roper Technologies, plans to integrate the Convoy Platform into its existing product suite, DAT One. This will offer users an expanded suite of tools with zero upfront cost. The acquisition will enhance DAT's innovative team and technology, including adding deep experience in engineering, product expertise, and operations professionals led by Bill Driegert [1]. Additionally, DAT will benefit from the Convoy Platform's advanced fraud prevention technology, easy-to-use mobile experience, and fast, reliable payments.

Flexport will continue to operate its digital brokerage business, allowing it to focus its capital and energy on its core business of helping customers move freight around the world. The sale of Convoy’s technology marks a dramatic return on investment, highlighting the platform's potential as a neutral infrastructure layer [2].

This acquisition aligns with DAT's ongoing commitment to enhancing network value for its customers. The Convoy Platform's integration with DAT One will provide a more comprehensive freight-matching network, allowing brokers to manage more loads and capture more business, ultimately offering more choice [1].

References:
[1] https://www.businesswire.com/news/home/20250728801115/en/DAT-to-Acquire-the-Convoy-Platform-from-Flexport
[2] https://finance.yahoo.com/news/flexport-sells-former-freight-unicorn-204923701.html