Triumph Financial, an American financial and technology company specializing in solutions for the transportation industry, has agreed to acquire startup Greenscreens.ai.
The announcement was made by Vital Laptenok, General Partner of Flyer One Ventures (formerly Genesis Investments), which invested in Greenscreens.ai back in 2022. After the deal closes, Flyer One Ventures will make an exit.
- Greenscreens.ai develops a logistics pricing platform that uses machine learning to determine the best freight rates.
- Under the terms of the agreement, Triumph Financial will pay $140 million in cash and $20 million in TFIN stock.
- The transaction is expected to close in the second quarter of 2025, subject to regulatory approvals.
- J.P. Morgan is acting as financial advisor to Triumph Financial in this transaction and Wachtell, Lipton, Rosen & Katz is acting as legal counsel. Greenscreens.ai is being advised by DLA Piper.
Aaron Graft, CEO of Triumph Financial, said the acquisition of Greenscreens.ai will allow the company to strengthen its analytics and pricing capabilities. According to him, this is an important step in Triumph's strategy to transform data into practical solutions for the freight transportation market.
Dawn Salvucci-Favier, CEO of Greenscreens.ai, emphasized that joining Triumph Financial will open new opportunities for the startup's development and accelerate the introduction of innovations in logistics pricing.
