Bluspark acquires SLYNC's intellectual property to accelerate product development and transportation digitization offerings

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Mar 04, 2024, 10:26 ET

NEW YORK, March 4, 2024 /PRNewswire/ -- Bluspark, a leading provider of innovative logistics and technology solutions, announced its acquisition of certain assets of SLYNC LLC, giving Bluspark ownership over the software and intellectual property. SLYNC shuttered operations in 2023 while ramping up product development and deployment. Terms of the transaction remain confidential.

The integration of SLYNC's intellectual property will allow Bluspark to accelerate its roll out of advanced features found in its VOYIX platform, a platform that was designed to streamline logistics processes, including rate management, shipment bookings allocation and visibility, and rate audit and payment. The acquisition will not only allow Bluspark to accelerate its technology roadmap but also ensures the preservation and continuation of SLYNCs remarkable developmental efforts.

Bluspark President and CEO, Ken O'Brien, said, "The storied demise of SLYNC should not overshadow the great work the development and product team did to bring innovative solutions using the latest in AI and machine learning to their customers. As a former potential customer, we saw the value of leveraging the technology stack to bring the vast amounts of unstructured data this industry generates into an actionable, automated state in a structured cloud environment. When SLYNC's IP became available, we saw this as a great opportunity to take that technology stack and bring it into our own VOYIX solution. We know the industry and we know the tech space. We always appreciate accretive opportunities – this is one such opportunity."

Bluspark Head of Technology, Nilanjan Mitra, added, "The addition of the SLYNC IP into our existing product suite will bring new functionality to our shipper association and beneficial cargo owner customers while opening up new product offerings and market segments. It positions us to tap into new target markets, leveraging predictive analytics to offer unparalleled solutions in the logistics field. This was a natural pairing of decades of experience and our existing technology to advance the logistics and shipping industries digitization efforts. We look forward to demonstrating our capabilities."

About Bluspark

Blusparks experts provide real-world, implementable solutions that bridge the gap between transportation and technology. Our team is fluent across many supply chain domains, including ocean transportation, import and export supply chain management, procurement, consulting, last-mile logistics, software development, and data science. Learn more at https://blusparkglobal.com/.

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SOURCE Bluspark