FOR IMMEDIATE RELEASE
COMMON MARKET AND COMPLEMENTARY SERVICE SYNERGIES TO BE REALIZED:
SYNCHRONET MARINE, INC. ACQUIRES MATCHBACK SYSTEMS, INC.
Companies to Offer End-to-end Solutions for Maritime Container Industries
Scottsdale, AZ – 20 May 2020 – SynchroNet Marine, Inc. (www.synchronet.co) today announced it has acquired MatchBack Systems, Inc. (www.matchbacksystems.com) of Green Bay, WI. The fit of these two organizations is around common target markets and complementary service offerings to provide end-to-end solutions in the container industry. The acquisition offers diverse access across multiple customer segments to increase opportunities for comprehensive container visibility, track & trace, interchange and street-turn relationships in the B2B arena.
SynchroNet Marine, founded in 1996, has long-term expertise and experience as the global premier provider of brokered cost-saving container interchanges and is universally recognized for its support and customer service. MatchBack Systems is a technology-driven innovator focused on increased automation and the use of the latest technologies for its street-turn services.
“The timing of this transaction is quite opportunistic as shocks in the global trade environment have created acute uncertainties, which require more in-depth and responsive solutions for our customers,” said Bob Baker, president and CEO of SynchroNet. “The combination of efficiency gains and cost savings from the effective use of technologically generated interchanges, one-ways, and street-turns will be extremely beneficial for a broad segment of the market.”
“MatchBack Systems has made significant investment in street-turn technology since our inception,” said Todd Ericksrud, founder and CEO of MatchBack Systems. “By adding the interchange and one-way service components to our technology we allow our customers to benefit from a broader range of value-added services.”
The two organizations will function independently, with business as usual. SynchroNet Marine will continue to execute its brokered full-featured interchange service with the global shipping lines, its network of regional shipping lines in Asia and Europe, as well as the leasing companies and container traders worldwide. MatchBack Systems, a Software as a Service (SaaS) company with an innovative approach to street-turn intermodal containers, will provide services to help customers identify, plan and execute street-turns for 3PLs, shipping lines and trucking companies. Both organization’s services lower costs, improve efficiencies and reduce harmful emissions.
SynchroNet Marine is a global company, managed in Singapore, with employees in Asia, Europe, S. America and N. America. MatchBack Systems with employees located in the US, provides street-turn solutions throughout NAM.