The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight a $90 million purchase of SalSon Logistics, a recovered shipment of 5 million bullets stolen from two tractor-trailers and more.
The High Five
1. Transportation and Logistics Systems Inc. has entered into an agreement to acquire all of the outstanding shares of SalSon Logistics. The $90 million purchase price includes $50 million in cash, 19.9% of TLSS stock and $20 million in seller financing. Todd Maiden’s report
2. Amazon Inc. is purchasing 1,000 trucks with high-autonomy software from startup Plus in a deal giving the e-commerce giant a 20% stake in the company. Hennessy Capital Investment Corp. V, the special purpose acquisition company sponsoring Plus for public trading, disclosed Amazon Logistics as the purchaser in an SEC 8-K filing. Alan Adler’s story
3. Mexican authorities said they have recovered most of a shipment of bullets stolen from two U.S.-bound tractor-trailers in central Mexico on June 9. Approximately 5 million bullets were found in the Mexican municipality of San Luis de La Paz in the state of Guanajuato, about 19 miles from where the bullets were stolen. Noi Mahoney with more
4. Electric Last Mile Systems will debut the second of its fully electric delivery vehicles at the upcoming Route Consultant Contractor Expo on July 30-31. The event is the largest FedEx Ground contractors event in the country and will be held in Nashville, Tennessee. Brian Straight’s Modern Shipper story
5. Uber Technologies is acquiring the remaining shares in Cornershop, an on-demand grocery delivery platform. According to an SEC filing, Uber will acquire the remaining 47% of the company it doesn’t already own. “When building your future with someone … at some point you gotta go all-in!” tweeted Cornershop CEO Oskar Hjertonsson. Brian Straight’s story
Five more to check out
Rail Roundup: Enstructure acquires Patriot Ports; TNW, OneRail Coalition make executive moves
What’s the value of FreightTech patents? For Omnitracs, maybe nothing.
Automated versus autonomous driving: Is that truck behind me a robot?
Daily Infographic: Transportation Employment Update