The privately-held ERP software company entered a strategic partnership with and invested $25 million in cloud-native predictive and prescriptive analytics provider Predictix back in January.
The United Kingdom will now have to sign new trade treaties with everyone, without the bargaining power of the European Union, which will lead to higher duties, and therefore, increased costs for shippers, Xeneta CEO Patrik Berglund said.
The Mahwah, N.J.-based global airfreight forwarder and supply chain solutions provider will launch its newest regional office in the United Kingdom July 1.
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The parcel carrier has agreed to pay $240 million to settle lawsuits covering around 13,000 divers across 20 states who claimed they should have been treated as employees instead of independent contractors.
The Swiss-based freight forwarding and logistics company is best known for its air and freight forwarding business, but has successfully added warehousing and distribution, along with related outsourced services, to its portfolio over the years.
The forwarder's temperature-controlled freight solution, which has already been providing service to the airfreight industry, has extended its offering to the ocean freight industry.