Ryder acquires logistics technology startup stick
MIAMI–(BUSINESS WIRE)–Ryder System, Inc. (NYSE:R), a leader in supply chain, dedicated transportation and fleet management solutions, announces the acquisition of Baton, a San Francisco-based startup known for the development of a proprietary logistics system technology focused on optimizing transportation networks. The acquisition, completed August 31, is an extension of Ryder’s collaboration with Baton, after RyderVentures’ venture capital fund invested in the technology company early last year.
“The acquisition of Baton is consistent with our strategic goal to continue to grow our supply chain and transportation solutions businesses, and part of that strategy is to bring new technology-driven solutions to market,” said Robert Sanchez, chairman and CEO of Ryder. “With Baton, we are gaining the talent and team of product developers and technologists behind the Baton logistics platform who will lead the innovation and development of the next generation of customer-facing technologies at Ryder.”
Baton co-founders Andrew Berberick and Nate Robert join Ryder as co-directors of product and technology for supply chain and dedicated transportation businesses and remain based in Silicon Valley. They are bringing their core development team and, with the resources of a $9.7 billion logistics company, will further develop Ryder’s technology product portfolio.
“Baton’s technology is what initially caught our attention, but working with Andrew and Nate over the past year and watching them evolve their platform, I think we all realized it wasn’t just the start of so much more. And, by joining forces, we can tackle a host of supply chain disruptions by creating a new product line leveraging their existing technology platform,” says Karen Jones. , Chief Marketing Officer and Head of New Product Development for Ryder, “Andrew and Nate are exceptional talents, and we are excited about the opportunities and value we can create for Ryder customers.”
Ryder first invested in Baton through RyderVentures during the startup’s Series A funding round in March 2021.
“We began this journey with Baton in 2019 with a mission to apply cutting-edge technology to optimize transportation networks, and we are proud of our success in this area,” says Andrew Berberick. “Now, working for Ryder, we have the opportunity to expand our reach and develop next-generation technologies to optimize end-to-end supply chains.”
Andrew Berberick holds bachelor’s and master’s degrees from Stanford University and has worked for Google, Accenture and Mindtribe. Nate Robert holds a bachelor’s degree from MIT and a master’s degree from Stanford University, and worked for BuildZoom and Bain & Company, before co-founding Baton.
“We are thrilled to partner with a logistics giant like Ryder who is also focused on the future of the industry. We believe the opportunities for collaboration and innovation throughout the supply chain are exponential,” adds Nate Robert.
Also joining Ryder are several members of Baton’s core management team, including Erik Malin as Group Chief Operating Officer. He brings his experience from Loadsmart, AFN and CarrierDirect. Ryan Houlihan will join Ryder as Director of Engineering. He has worked for Apple, NASA’s Jet Propulsion Laboratory and Kinema Systems (acquired by Boston Dynamics). Jason Liu will also join Ryder as Director of Engineering. He brings his experience from BuildZoom and as co-founder of 56, a website design and construction agency.
About Ryder System, Inc.
Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transport and fleet management solutions, including leasing, full rental and maintenance, used vehicle sales, professional drivers, transport services , freight brokerage, warehousing and distribution, e-commerce fulfillment and last mile delivery services. , to some of the most recognized brands in the world. Ryder provides services in the United States, Mexico, Canada and the United Kingdom. Additionally, Ryder manages nearly 239,000 commercial vehicles and operates more than 330 warehouses, covering more than 80 million square feet. Ryder is consistently recognized for its leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally responsible solutions, corporate social responsibility, safety programs and world-class security, recruitment initiatives for military veterans and the hiring of a diverse workforce. www.ryder.com
Note Regarding Forward-Looking Statements: Certain statements and information included in this press release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations regarding the expansion of our business as supply chain solutions and current and future technology capabilities, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated in light of numerous risks and uncertainties that could cause actual results and events to differ materially from those contained in the forward-looking statements, including the risks set forth in our periodic filings with the securities and exchange commission. New risks appear from time to time. It is not possible for management to predict all of these risk factors or to assess the impact of these risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.