Uber Freight will acquire logistics technology provider Transplace from private equity group TPG Capital for approximately $2.25 billion.

The transaction is subject to regulatory approval and other customary closing conditions.

Lior Ron, Head of Uber Freight said: “This is an opportunity to bring together complementary best-in-class technology solutions and operational excellence from two premier companies to create an industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains."

Frank McGuigan, CEO of Transplace added: “The acquisition will combine the world’s premier shipper network platform with one of the industry’s most innovative supply platforms, to the benefit of all stakeholders.

“Our expectation is that shippers will see greater efficiency and transparency and carriers will benefit from the scale to drive improved operating ratios.”