project44 has continued its rapid development in the supply chain visibility sector via the acquisition of Ocean Insights.
Ocean Insights offers track and trace functionality across more than 55 shipping lines, 700 seaports, and more than 5,000 vessels as well as handling over five million sailing schedule changes per day.
By combining Ocean Insights’ tracking and analytics with the project44 platform and ecosystem, project44 says its customers will have an unrivaled set of multi-modal solutions for end-to-end supply chain visibility.
Ocean Insights customers include International Food Group (Sysco), Pernod Ricard, FourKites and other leading enterprises in automotive, manufacturing, food & beverage, commodity trading, chemical and freight forwarding. Many already leverage both Ocean Insights and project44 such as DB Schenker, Hellmann Worldwide Logistics, Kuehne + Nagel, Lenovo, and Mondi Group.
Back in December, project44 CEO Jett Mccandless told Trans.INFO that the company would be investing significantly in ocean in 2021. The acquisition of Ocean Insights shows the supply chain visibility provider are most certainly doing so.
In a statement, Felix Richter, CEO/CTO of Ocean Insights, said the partnership would “supercharge” its offerings to customers:
Through this partnership, we can now supercharge our offerings to customers and will be able to deliver the strongest ocean freight visibility product to date. We will do this through native integrations, high-fidelity data, and advanced analytics and together, have on offer, an unrivalled set of multi-modal solutions for end-to-end supply chain visibility.
Meanwhile, project44 CEO Jett Mccandless said the deal will allow the company to provide “the most comprehensive end-to-end visibility platform”.
“Ocean freight is a linchpin for global supply chains. For organizations shipping internationally, the lack of ocean visibility can start a costly domino effect throughout the supply chain. Ocean Insights has dominated the container tracking space and we look forward to providing the industry not only the best ocean capabilities, but also the most comprehensive end-to-end visibility platform.”
The significant acquisition comes just days before project44’s supply chain visibility conference, Transform 2021, which takes place on March 9 and 10.