E-commerce logistics startup Stord has bought CEVA Logistics subsidiary Shipwire, the company said Monday.
The deal, which closed Jan. 1 for a undisclosed amount, adds 12 new locations to Stord’s growing logistics network and about 60 new employees. Shipwire is an AI fulfillment platform used by e-commerce firms.
“This is a great network, great customers, great team to pull onto our technology and our combined scale,” CEO Sean Henry told CNBC. “And with that scale, it spins our flywheel up.”
The deal also brings dozens of new large and mid-market customers and a host of AI-powered internal execution, planning and routing tools to Stord’s network, he added.
Stord will look to partner with CEVA’s 120 million square foot network across 170 countries.
