The acquisition effectively closes down a former venture-capital darling that was valued at $3.8 billion last year
Flexport says it isn’t acquiring Convoy’s overall business or its liabilities, including physical assets such as real estate or truck trailers.Flexport plans to restore Convoy’s trucking services for its customers in the coming weeks, Petersen wrote in the memo.
He said Flexport isn’t acquiring Convoy’s overall business or its liabilities, including physical assets such as real estate or truck trailers.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
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