Pegasus TransTech has acquired TripPak Services and ACS Advertising from Xerox in a move that bolsters its position as a market leader in electronic revenue management solutions for the trucking industry.
Terms of the deal were not disclosed.
TripPak provides transportation solutions, such as document capture, submission and workflow management, as well as safety and compliance solutions. ACS Advertising is a driver recruitment advertising agency.
The combined company will serve over 3,000 truck fleets and third party logistics customers with both transactional and software solutions for revenue cycle management.
Frank Adelman, President and Chief Executive Officer of Pegasus TransTech, said the acquisition will “enable truck fleets and drivers to capture revenue more quickly, gain greater visibility into revenue management processes and comply with regulatory requirements more efficiently.”
Pegasus TransTech partners with U.S. and Canadian truck stop operators to provide document capture and transmission solutions. The company says it serves more than 900 travel centers, 42 of the top 50 truckload carriers, 17 of the top-30 freight brokers and over 350,000 drivers. TripPak adds 500 additional truck stop locations as well as a network of 1,200 drop boxes for document submission.