Ryder Acquires Logistics Technology Startup Baton

MIAMI–(COMMERCIAL WIRE)–Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation and fleet management solutions, announces that it has acquired Baton, a San Francisco-based start-up known for developing a logistics patented technology focused on optimizing transport networks. The acquisition, finalized on August 31, is an extension of Ryder’s collaboration with Baton, after Ryder’s corporate venture capital fund RyderVentures invested in the technology company early last year.

“The acquisition of Baton is consistent with our strategic focus to continue to grow our transportation and supply chain solutions businesses, and part of that strategy is to bring new technology-driven solutions to market,” says Robert Sanchez, president and chief executive officer. Ryder executive. “With Baton, we gain the talent and team of product developers and technologists behind the Baton Logistics Platform who will lead the innovation and development of the next generation of customer-facing technologies at Ryder.”

Baton co-founders Andrew Berberick and Nate Robert join Ryder as co-directors of technology and products for the supply chain and dedicated transportation businesses, and remain in Silicon Valley. They bring in their core development team and, with the resources of a $9.7 billion logistics company, will further develop Ryder’s portfolio of technology products.

“Baton’s technology is what initially caught our eye, but working with Andrew and Nate over the last year and seeing their platform evolve, I think we all realized that it was just the beginning of so much more. And, by joining forces, we can address a host of supply chain disruptions by creating a new set of products that leverage their existing technology platform,” says Karen Jones, director of marketing and director of new product development at Ryder. “Andrew and Nate are exceptional talents and we are excited about the possibilities and value we can create for Ryder customers.”

Ryder first invested in Baton through RyderVentures during the startup’s Series A funding round in March 2021.

“We began this journey with Baton in 2019 with a mission to apply cutting edge technology to optimize transportation networks and we are proud of our success in that area,” says Andrew Berberick. “Now, working for Ryder, we have the opportunity to extend our reach and develop next-generation technologies to optimize supply chains from end to end.”

Andrew Berberick has bachelor’s and master’s degrees from Stanford University and has worked for Google, Accenture, and Mindtribe. Nate Robert has a BA from MIT and an MBA from Stanford University, and worked for BuildZoom and Bain & Company, before co-founding Baton.

“We are excited to join forces with a logistics giant like Ryder who is equally focused on the future of the industry. We believe that the opportunities for collaboration and innovation throughout the supply chain are exponential,” adds Nate Robert.

Ryder is also joined by several members of Baton’s core leadership team, including Erik Malin as the group’s director of operations. He brings experience from Loadsmart, AFN and CarrierDirect. Ryan Houlihan will join Ryder as director of engineering. He has worked for Apple, NASA Jet Propulsion Laboratory, and Kinema Systems (acquired by Boston Dynamics). Jason Liu will also join Ryder as director of engineering. He brings experience from BuildZoom and as a co-founder of 56, a website creation and design agency.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading transportation and logistics company. Provides supply chain, dedicated transportation and fleet management solutions, including full-service leasing, rental and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment and last mile delivery services. , to some of the most recognized brands in the world. Ryder provides services in the United States, Mexico, Canada, and the United Kingdom. Additionally, Ryder manages nearly 239,000 commercial vehicles and operates more than 330 warehouses, spanning more than 80 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, green solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and hiring a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information contained in this press release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations regarding the expansion our supply chain solutions business and the capabilities of current and future technologies are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated in light of the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements, including the risks set forth in our periodic filings with the Securities and Exchange Commission. From time to time new risks emerge. It is not possible for management to predict all of these risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.



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