SOURCE: GT Nexus, Inc.

January 22, 2008 00:01 ET

GT Nexus Acquires Metaship AG, Expands European Operations

Move Underscores Commitment to Europe, Establishes Regional Headquarters and Enhances Customer Base

ALAMEDA, CA and HAMBURG, GERMANY--(Marketwire - January 22, 2008) - GT Nexus today announced that it has acquired Metaship AG, an innovative provider of logistics management technology for importers, exporters and third party logistics providers (3PLs). The Metaship team and operations, based in Hamburg, Germany, are now part of GT Nexus and serve as the company's headquarters for Europe.

"We think Europe has tremendous growth potential and this acquisition positions us to take full advantage of the opportunity," said Aaron Sasson, CEO of GT Nexus. "Metaship has an impressive list of customers, an outstanding team and a technology that is very complementary to the capabilities currently available on the GT Nexus portal. With this foundation in place, we are poised to grow rapidly in Europe."

The need for advanced logistics technology in Europe is being driven not just by globalization and supply chain sophistication, but also by the changing regulatory environment and complex land transport networks. Customers increasingly recognize the power of network-based technology platforms like GT Nexus and Metaship, delivered on-demand, to address the challenges of global trade and logistics.

"Metaship has been a provider of solid logistics software solutions to DHL for a number of years," said Andreas Krueger, Head of Global Operations OFR at DHL Global Forwarding. "We look forward to drawing the benefits of the merger with GT Nexus, which we expect will further enhance the product portfolio and value proposition to clients."

The combined suites of products will deliver significant added value to customers both in Europe and abroad. GT Nexus' global transportation, visibility and supply chain finance capabilities, along with Metaship's rate management and road transportation products, create a complete, end-to-end solution that is in use at many of the world's biggest shippers today.

But logistics providers (3PLs) will also benefit. Many major 3PLs are current customers of Metaship and the company's market-leading freight management system will be combined with GT Nexus' visibility and shipment execution services into a comprehensive global logistics management solution especially customized for the 3PL market.

"We have worked with Metaship for a number of years and are impressed with their achievements," said Bas Mali, Executive Board Member of the JF Hillebrand Group AG. "We are confident that the merge with GT Nexus will prove to be valuable over time."

Founders and former co-CEOs of Metaship, Wolf Scheder-Bieschin and Krafft Börner, have joined the management team of GT Nexus Europe, responsible for products and operations in Europe, respectively. "Joining GT Nexus was the perfect next step for us and the Metaship team is very excited," said Wolf Scheder-Bieschin. "Providing continuity for our existing customers and offering the market a broader solution and stronger support infrastructure are our top priorities."

The acquisition was completed in December 2007 and Metaship is now operating as GT Nexus Europe GmbH.

About GT Nexus

GT Nexus runs the world's only industry-backed, on-demand global trade & logistics portal. Today, more than 40,000 registered users, from over 15,000 organizations use a range of capabilities on the portal to optimize the global flow of goods and trade information from order point to final payment. GT Nexus connects the physical and financial supply chains. This allows buyers, sellers, banks and logistics providers to work over a common platform with a core set of information that supports multiple trade and logistics functions. Customers include Xerox, Evian, MOL, Schenker, Procter & Gamble, Geodis Wilson, APL, Weyerhaeuser and The Home Depot. For information, visit www.gtnexus.com.