Monday, April 9, 2007
Newgistics Nabs Logistics Management
Newgistics Inc., an Austin, Texas-based firm specializing in return management solutions, has acquired transportation broker Logistics Management Inc. of Fairhaven, Mass., Newgistics reported Monday. Terms of the deal were not disclosed. However, Newgistics said it plans to utilize LMI's transportation-management capabilities to expand its offerings beyond traditional methods of return. LMI's brokering expertise focuses on less-than-truckload shipping. Newgistics' key offering is SmartLabel, a pre-addressed, pre-paid label that customers can affix to packages for return and drop off at any USPS location. Retailers Neiman Marcus, J.Crew and Abercrombie & Fitch are some of Newgistics' highest-profile clients.