Transportation Industry
U.S. Bancorp Acquires AIMS Logistics To Bolster Online Payment System
Transport Topics, October, 2007 by Leone, Dan
U.S. Bancorp, the holding company for U.S. Bank, Minneapolis, said Oct. 9 it purchased AIMS Logistics, a provider of freight payment and auditing services, in a move to bolster its own online ratepayment system, PowerTrack.
Terms of the deal were not disclosed, but Richard Langer, general manager of U.S. Bank's PowerTrack unit, estimated the combined businesses will process about $19 billion in freight payments annually.
The acquisition is "another good bolt-on to our financial supplychain solutions," said Langer. "We're looking at paying the freight, paying the payables, doing trade finance - the whole thing."
AIMS Logistics, Collierville, Tenn., is to operate as part of the PowerTrack Payment Network within the Corporate Payment Systems division of U.S....
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