Newgistics Acquires Cornerstone Shipping Services

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Returns-management system provider Newgistics on Feb. 11 acquired Milan, IL-based small-package shipping software supplier Cornerstone Shipping Services. The combined company will be known as Newgistics.

Based in Austin, TX, Newgistics provides direct merchants with what it claims is the industry’s first postal-based intelligent logistics management (ILM) system. In other words, the deal enables the company to combine Newgistics’ technology for managing returns with Cornerstone's parcel shipping prowess.

The a $100 million company’s flagship SmartLabel system features a dynamic barcode integrated with customer data at the point-of-sale.

As a result of the acquisition, Newgistics is appointing logistics veteran and Cornerstone cofounder and former CEO David Plemons vice president of business solutions. Prior to Cornerstone, Plemons was with United Parcel Service (UPS).

Cornerstone Shipping is Newgistics’ second acquisition. Last April it bought Logistics Management Inc. (LMI), which extended the company’s offering to include transportation management capabilities for less-than-truckload (LTL) and truckload shipping. Newgistics customers include Neiman Marcus and Abercrombie & Fitch.
 

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