Convoy Inc's Future: Sale or Strategic Merger?

Convoy Inc explores strategic decisions amid a challenging trucking market, as experts suggest potential mergers or sales.

Convoy Inc's Future: Sale or Strategic Merger?

Seattle-based digital freight brokerage, Convoy Inc., facing challenges from a downturn in the U.S. truckload market and amid dwindling valuations, has hired Goldman Sachs to explore potential strategic decisions that might include a sale, merger, or significant investment. As the trucking sector witnesses declining volumes and rates, leading logistics platforms like Convoy and Uber Freight are struggling to meet growth and revenue targets, prompting industry observers to speculate on possible acquisitions.

Source: FreightWaves & Brittain Ladd

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