Ryder acquires Cardinal Logistics
PRESS RELEASE Ryder Completes Acquisition of Cardinal Logistics Acquisition complements and strengthens Ryder’s position as a leading ...
Ryder Acquires Logistics Technology Start-Up Baton
Cofounders join Ryder to head up product development for customer-facing logistics technologies
MIAMI–(BUSINESS WIRE)–Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces it has acquired Baton, a San Francisco-based start-up known for the development of a proprietary logistics technology focused on optimizing transportation networks. The acquisition, finalized on August 31, is an extension of Ryder’s collaboration with Baton, after Ryder’s corporate venture capital fund RyderVentures invested in the tech firm early last year.
“The acquisition of Baton is consistent with our strategic focus 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,” says Robert Sanchez, chairman and chief executive officer of Ryder. “With Baton, we gain the talent and the 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’s cofounders Andrew Berberick and Nate Robert join Ryder as co-chief product and technology officers for the supply chain and dedicated transportation businesses and remain based in Silicon Valley. They bring their core development team and, with the resources of a $9.7 billion logistics company, will further develop Ryder’s portfolio of technology products.
“Baton’s technology is what initially caught our eye, but in working with Andrew and Nate over the past year and watching as they evolved their platform, I think we all realized that it was just the beginning of so much more. And, by joining forces, we can tackle a host of supply chain disruptions by building out a new suite of products leveraging their existing tech platform,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “Andrew and Nate are exceptional talent, and we’re excited about the possibilities and the value we can create for Ryder customers.”
Ryder first invested in Baton through RyderVentures during the start-up’s Series A funding round in March 2021.
“We started this journey with Baton back in 2019 with a mission to apply cutting-edge technology to optimize transportation networks, and we’re proud of our success in that area,” says Andrew Berberick. “Now, in working for Ryder, we have the opportunity to broaden our scope and develop next-gen technologies to optimize supply chains from end-to-end.”
Andrew Berberick holds a bachelor’s and a master’s degree from Stanford University, and 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, prior to cofounding Baton.
“We are excited to join forces with a logistics giant like Ryder that is equally focused on the future of the industry. We believe the opportunities for collaboration and innovation across the supply chain are exponential,” adds Nate Robert.
Also joining Ryder are several members of Baton’s core leadership team, including Erik Malin as a group director of operations. He brings experience from Loadsmart, AFN, and CarrierDirect. Ryan Houlihan will join Ryder as a director of engineering. He has worked for Apple, NASA Jet Propulsion Laboratory, and Kinema Systems (acquired by Boston Dynamics). Jason Liu will also join Ryder as a director of engineering. He brings experience from BuildZoom and as co-founder of 56, a website design-and-build agency.
About Ryder System, Inc.
Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 239,000 commercial vehicles and operates more than 330 warehouses, encompassing more than 80 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com
Note Regarding Forward-Looking Statements: Certain statements and information included in this news 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 with respect to expanding our supply chain solutions business and the capabilities of current and future technologies, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such 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.