(Bloomberg) -- Sennder, a Berlin-based logistics company, has acquired French rival Everoad to create one of the largest digital platforms for road shipments in Europe.
The combined entity will have offices across six countries and employ around 350 people, Sennder said in a statement on Tuesday.
Both platforms connect large companies with small trucking firms, making it possible to have a diversified fleet to deliver their products. While the Covid-19 pandemic hurt the logistics industry's profitability, Sennder Chief Executive Officer David Nothacker said the combination will help the merged firm save money.
The combined company aims to reach revenues of 1 billion euros ($1.1 billion) by 2024. Together, Everoad and Sennder have raised more than 120 million euros since their inceptions from investors including Lakestar and Accel.
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