Triumph Financial in Dallas has agreed to buy Greenscreens.ai, which provides a pricing solution for the logistics industry.
The $5.9 billion-asset Triumph said in a press release that it will pay $160 million in cash and stock for the fintech, which uses machine learning to deliver short-term freight market pricing intelligence and business insights. The deal is expected to close in the second quarter.
The acquisition “marks another significant step in our strategy to transform data into actionable intelligence for the freight industry,”Aaron Graft, Triumph’s vice chairman and CEO, said in the release. “With our recent acquisition of Isometric Technologies, we laid the groundwork for performance-based intelligence.”
J.P. Morgan and Wachtell, Lipton, Rosen & Katz advised Triumph. DLA Piper advised Greenscreens.ai.