Software Firm Buys Sabre Unit
Transportation software pioneer Yossi Sheffi has returned to finish a job he started before the Internet showed it could revolutionize logistics and freight planning.
Sheffi will be chief executive officer of the new company, which will continue to sell decision-support software tools for shippers and carriers while developing an Internet-based marketplace where freight can be exchanged and transportation contracts executed in real time.
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Sheffi, the director of the Center for Transportation Studies at the Massachusetts Institute of Technology and the founder of Princeton Transportation Consulting Group, has formed a new company, Logistics.com, to buy the logistics assets of Sabre Corp. Dallas-based Sabre bought PTCG from Sheffi in 1996 and turned it into a major player in transportation software.
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Internet Capital Group, a Wayne, Pa.-based holding company that owns interests in dozens of electronic commerce start-ups, will invest $30 million in Logistics.com, Sheffi said.
