Business/High-Tech Editors
PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 6, 2001
DAT Services, the nation's original and largest freight-exchange
network, will lead TransCore's commercial services division while
Jubitz Corp. maintains four other Oregon businesses
The Jubitz Corp., known for its visionary products and services, today announced the sale of DAT Services, its innovative transportation freight exchange division, to TransCore Inc., a provider of transportation services for the government, commercial and consumer sectors.
Jubitz will receive an equity stake in TransCore Inc. and will be represented on its board of directors. Other terms of the sale were not disclosed.
Following the sale of DAT Services, Jubitz Corp. will continue to operate four other businesses, including its famous Portland travel center, and will retain more than 300 employees. Jubitz expects its four remaining businesses to generate more than $90 million in fiscal 2001, easily maintaining the company's status as one of Oregon's top 100 private companies.
The divested business, DAT Services, will become the commercial services headquarters for TransCore Inc. and will remain located in Beaverton, Ore. All 300 employees of DAT Services will retain their jobs under the new ownership, and DAT Services' customers will experience no disruption in service.
"We are proud to have developed a company that has attracted the interest of one of the nation's leading transportation services enterprises, and we are confident that DAT Services will continue to make its customers more efficient and profitable under TransCore's ownership," said Al Jubitz, co-president of Jubitz Corp.
"We will continue to invest in our four other divisions, ensuring their success under local ownership," added Fred Jubitz, co-president of Jubitz Corp.
During the past two years, Jubitz Corp. has invested substantial capital to rebuild and double the size of Jubitz Truck Stop, which rates as one of the top independent travel centers in the country. In addition, Jubitz Corp. plans to continue to invest in its commercial cardlock fuel and tire businesses, as well as provide telephony and data services to the truck-stop industry through its majority-owned subsidiary, SmartStop Inc.
Merrill Lynch acted as financial advisor to Jubitz Corp. in this transaction.
About Jubitz Corp.
Based in Portland, Ore., Jubitz Corp. is a preferred provider of products and services for the trucking industry. Since 1952, when Moe Jubitz started Fleet Leasing, Inc., Jubitz Corp. has evolved from a single travel center in Portland, Ore., into an internationally recognized transportation services company. Jubitz Corp. now encompasses four businesses, including commercial cardlock fuel and tire businesses and telephony and data services through its majority-owned subsidiary, SmartStop Inc. For further information, please visit http://www.jubitz.com.
About DAT Services
Since 1978, DAT Services has maintained the original and largest business-to-business freight exchange network for the transportation industry. DAT Services harnesses a variety of electronic methods to deliver information services that help make its 17,000 customers more efficient and profitable. From creating the first of more than 1,200 electronic load-posting monitors in truck stops to launching DATconexus, the first ready Internet freight marketplace, DAT Services has established a neutral transportation network with a long record of innovative leadership. Headquartered in Portland, Ore., DAT Services has branch offices in Nashville, Tenn., West Palm Beach, Fla., and Brussels, Belgium. For further information, please visit http//:www.dat.com.