Meridian IQ Acquires US Operations of GPS Logistics
The Company said the acquisition is another step along the path of becoming the leading provider of global transportation management services and providing one-stop shopping for clients around the world. Yellow Global, the global transportation management business of Meridian IQ and GPS will be combined under the trade name Yellow GPS enabling the company to expand its market coverage and service network.
"This acquisition is an important step for both our organizations to become the provider of one-stop shopping for global transportation," said Jim Ritchie, President and Chief Executive Officer of Meridian IQ. "The complementary locations and market coverage of Yellow Global and GPS USA add scale and scope to our global network. This new partnership is a natural outgrowth of the strong relationship Yellow Global already has with GPS Logistics, its agent partner in handling goods between the U.S., the United Kingdom and Asia. "
"I am pleased that this combination will provide customers with an even greater sense of control and visibility on their global shipments," said Paul Fitzpatrick, President of GPS USA. "They will now have increased access to resources to meet their transportation needs worldwide, including all the transportation and logistics capabilities of Meridian IQ and the resources of Yellow Corporation, one of the world's largest transportation service providers and most widely recognized brand names in the industry."
Bill Zollars, Chairman, President and Chief Executive Officer of Yellow Corporation, said, "The addition of GPS USA into the Yellow family signifies our continued commitment to build the non-asset side of our business. In adding customers and capabilities both in the U.S. and overseas, Yellow Corporation continues to solidify its reputation in global transportation."
About Meridian IQ
Meridian IQ, a wholly owned subsidiary of Yellow Corporation (Nasdaq: YELL) is a global transportation solutions management company. Based in Overland Park, Kansas. Meridian IQ allows companies to improve their transportation network and overall supply chain efficiency by offering flexible transportation solutions supported by Web-native technology and global shipment management capabilities.
About Yellow Global
Yellow Global is the international transportation service provider of Yellow Corporation. With operations in eight major domestic cities and an agent network of 66 international partners representing trade with 88 countries worldwide, Yellow Global offers high quality end-to-end global services including customized logistics solutions and online transportation tools. Yellow Global is an operating subsidiary of Meridian IQ.
About Yellow Corporation
Yellow Corporation, a Fortune 500 company, is a holding company that through wholly owned operating subsidiaries offers its customers a wide range of asset and non-asset based transportation services integrated by technology. Its largest subsidiary, Yellow Transportation, offers a full range of regional, national and international services for the movement of industrial, commercial and retail goods. Meridian IQ is a non-asset global transportation management company that plans and coordinates the movement of goods worldwide. Yellow Technologies provides innovative technology solutions and services exclusively for Yellow Corporation companies. Headquartered in Overland Park, Kansas, Yellow Corporation employs approximately 23,000 people.
SOURCE Yellow Corporation
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