Meridian IQ, a Yellow Corporation Subsidiary, Acquires Selected Assets of Clicklogistics, Inc.
Meridian IQ, a Yellow Corporation Subsidiary, Acquires Selected Assets of Clicklogistics, Inc.
Jul 23, 2002 at 12:00 AM EDT
A privately held company founded in 1997, Clicklogistics provides services that include a web-native transportation management system (TMS), outsourced transportation management and consulting. The Boston, Massachusetts based company has been recently recognized by Inbound Logistics Magazine as one of the top 100 logistics services providers.
"Both Meridian IQ and Clicklogistics offer technology solutions that address everyday transportation management challenges without the need for a company to make a significant capital investment," said Jim Ritchie, President and Chief Executive Officer of Meridian IQ. "When you couple our expertise to operate non-core processes and our financial stability, you are delivering a very strong value proposition for customers."
Meridian IQ will acquire certain material assets, consisting primarily of customer contracts and key employees within the Clicklogistics sales, operations and professional services group. Meridian IQ will integrate the Clicklogistics customers before the end of 2002. Going forward, all capabilities will be marketed under the Meridian IQ brand and will be headquartered in Overland Park, Kansas.
"We have talked with all customers of Clicklogistics and they are excited about the similarities of the business model and the financial stability of Meridian IQ. This reinforces what we have been seeing all along, that customers value solutions that are flexible, easy to implement and deliver a quick return on their investment," said Ritchie.
About Yellow Corporation
Yellow Corporation, a Fortune 500 Company, is a holding company with wholly owned operating subsidiaries. Its largest subsidiary, Yellow Transportation, Inc., offers a full range of national, regional and international services for the movement of industrial, commercial and retail goods. SCS Transportation provides overnight and second-day LTL and selected TL services to a broad range of industries. Meridian IQ is a non-asset based company using web-based technology to provide customers a single source for transportation management solutions and global shipment management. Headquartered in Overland Park, Kansas, Yellow Corporation employs approximately 28,000 people.
About Meridian IQ
Meridian IQ, a wholly owned subsidiary of Yellow Corporation (Nasdaq: YELL), is a global transportation solutions management company. Based in Overland Park Kansas, Meridian IQ allows companies to improve their transportation network and overall supply chain efficiency by offering flexible transportation solutions supported by Web-native technology. For more information please visit www.meridianiq.com .
SOURCE Yellow Corporation
CONTACT: Suzanne Dawson of Linden Alschuler & Kaplan, +1-212-575-4545, sdawson@lakpr.com
or
John Norris of Meridian IQ, +1-913-344-3202, john.norris@meridianIQ.com
URL: http://www.meridianiq.com http://www.prnewswire.com