Ryder System, Inc. (NYSE:R)
Ryder System, Inc. (NYSE:R) announced that it has successfully completed the purchase of Baton, a logistics technology start-up firm in San Francisco with a primary focus on enhancing transportation networks.
Baton Technology of Ryder System, Inc.
On August 31, the sale was finally closed. After Ryder System, Inc. (NYSE:R) corporate venture capital fund, RyderVentures, invested in Baton during the start-Series up’s A investment round in March 2021, this is an expansion of Ryder’s engagement with Baton.
Andrew Berberick and Nate Robert, both involved in the founding of Baton, will join Ryder System, Inc. (NYSE:R) as co-chief product and technology officers for the company’s supply chain and specialized transportation operations. Other members of Baton’s core leadership team, in addition to the company’s co-founders, will be joining Ryder. These members include Erik Malin, who will serve as group director of operations, and Ryan Houlihan and Jason Liu, who will each serve as engineering directors.
The chairman and chief executive officer of Ryder System, Inc. (NYSE:R), Robert Sanchez, made the following statement regarding the acquisition of Baton: “The acquisition of Baton is consistent with our strategic focus to continue to grow our supply chain and transportation solutions businesses. A part of that strategy is to bring new technology-driven solutions to market.”
According to Karen Jones, who serves as Ryder’s chief marketing officer and head of new product development, “Baton’s technology is what initially piqued our interest in the company; however, after spending the past year collaborating with Andrew and Nate and observing how they developed their platform, I believe that we all came to the conclusion that this was merely the beginning of a great deal more. And by working together, we will be able to combat a wide variety of disruptions in the supply chain by developing a new product suite that uses their existing technological infrastructure.”
Portfolio of of Ryder System, Inc.
It is anticipated that portfolio of technological products of Ryder System, Inc. (NYSE:R) will be strengthened as a result of the acquisition, and supply chains will be optimized from beginning to finish. Baton’s core development team will be brought in.
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Author Shariq Khan 
