Noatum Logistics, the Naotum Maritime division specializing in logistics, international transport and customs, has signed a definitive agreement to acquire the third-party logistics company MIQ Logistics, both companies announced Thursday in press releases.
Terms of the acquisition were not disclosed, but the agreement is expected to close in the coming weeks. With a consolidated turnover of more than $600 million, Noatum Logistics, headquartered in Spain, will have a presence in 24 Asian, European, Latin American and North American countries.
The workforces of MIQ Logistics, based in Overland Park, Kan., and Noatum Logistics will be integrated as there is no geographical overlap except in Chile, where the services complement each other, according to the Noatum press release.
MIQ Logistics, which offers logistics solutions supported by Web-native technology, has 15 locations in the United States, 26 in Asia, 13 in Latin America and eight in Europe.
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