WALLENIUS Wilhelmsen has bought almost all the remaining shares of its automated logistics subsidiary Syngin Technology.
The shipping company has owned 70% of Syngin since 2018 but has purchased additional shares from joint-owner Haute Tour Holdings.
Following the transaction, it now owns 99.5% of the business, effective 31 March 2023.
Wallenius Wilhelmsen said it has been working with Syngin since 2018 to broaden the scope of its full lifecycle logistics services to support automotive customers.
Syngin’s operations will now be a part of Wallenius Wilhelmsen’s new digital supply chain services unit, one of several new business units the company announced last month.
“The purchase of these outstanding shares of Syngin provides an opportunity to add a critical piece to our digital supply chain solutions offering, bringing instant market credibility to automotive fleet management and mobility services within the group,” Wallenius Wilhelmsen COO logistics Mike Hynekamp said.
He said he expects the technology to be used beyond fleet management customers to include OEMs and other aspects of Wallenius Wilhelmsen’s business.
“We now can grow the Syngin marketplace beyond fleet cars and into new vehicles at scale and expand our services globally.”
Wallenius Wilhelmsen said the Syngin platform connects a network of more than 2000 owner-operation truck carriers in the US with fleet managers and vehicle re-marketers.
It said the digital platform was revamped earlier this year to improve user experience, simplify workflows and streamline system integrations through APIs.
The SynginGO app has also been developed to support carriers to make last-mile operations more efficient.
“We are proud to be able to offer a digitally enabled inland transportation service, coupled with an experienced management and concierge team,” Mr Hynekamp said.
“These investments lay the foundation for us to reach our goal to make Wallenius Wilhelmsen the leading supply chain and mobility orchestrator.”
