General News
UPS To Acquire Coyote Logistics for $1.8Bn
UPS said it has entered into a definitive purchase agreement to acquire Coyote Logistics, a technology-driven, non-asset based truckload freight brokerage company for $1.8 billion from Warburg Pincus.
Founded in 2006, Coyote reported annual revenue of $2.1 billion in 2014.
Closing is expected within 30 days, subject to customary conditions and regulatory approvals, according to a statement released by UPS on its website on Friday.
The transaction will be financed with available cash resources and through existing and new debt arrangements. The acquisition is expected to be accretive to UPS earnings in 2016.
“The brokered full-truckload freight segment is a high growth market and we expect it will continue to outpace other transportation segments,” said David Abney, UPS chief executive officer. “This high quality acquisition significantly increases UPS full-truckload scale and we are uniquely positioned to take advantage of exciting new revenue growth and synergy opportunities.”
“The Coyote management team is very excited to become a part of UPS and continue to grow, now with UPS’s support. We’re also very thankful for the Warburg Pincus partnership over the last several years,” said Jeff Silver, Coyote CEO.
“Our great people, leading technology and flexible organization will enable us to scale quickly to take full advantage of the added customers, lanes and capacity within UPS,” Silver said. “It’s a great day for Coyote employees, our customers and our contracted carriers.”
Coyote arranges customers’ freight shipments on available trucking capacity contracted to members of its large carrier network, numbering more than 35,000 trucking companies. Coyote has experienced very rapid revenue growth since inception and has built extensive relationships with a broad customer base.
The company enjoys strong market positions among food and beverage, and consumer goods customers, as well as paper and packaging, industrial and retail segments.
Following the acquisition and integration of Access America Transport to its network last year, Coyote added industry leading strength in flatbed serviced segments such as heavy equipment and construction.
During the peak holiday shipping season, UPS often supplements its fleet with contract transportation providers to meet customer demand.
Coyote has played a growing role in supporting UPS peak operations over the past few years and the company expects to leverage Coyote’s carrier network even further for this purpose in the future.
UPS has also identified revenue growth and fleet efficiency synergy opportunities by hauling shipments arranged by Coyote using existing UPS backhaul capacity within its tractor/trailer fleet.
“Through the Coyote network, UPS will provide our combined customer base with an even more seamless supply chain solutions portfolio from multi-modal freight shipments to small-package delivery,” said Alan Gershenhorn, UPS executive vice president and chief commercial officer.
“We will now also have the technology to help our customers improve the utilization of their fleets as part of an extended network of carriers,” Gershenhorn said. “We see opportunities for greater customer and UPS fleet asset utilization that will deepen our partnerships with customers.”
“In addition to the core profitability of Coyote, UPS is well positioned to realize a run-rate of $100 to $150 million of annual operating synergies, from backhaul utilization, purchased transportation and cross-selling opportunities,” said Abney.
Coyote uses a suite of proprietary information technologies that provides market-leading transportation management applications. The company also offers several software applications that customers and transportation providers can easily integrate.
Coyote possesses significant industry knowledge, intellectual property, employee talent, and has a strong company culture. For these reasons, Coyote will operate as a subsidiary of UPS, under Jeff Silver’s leadership, with careful attention given to supporting the unique characteristics that have enabled its success to date.
“UPS is enthusiastic about this acquisition on many levels because there are opportunities for growth, synergistic efficiencies and transfer of best practices and systems across all of our operating segments,” said Abney.
Police in Abuja have uncovered a criminal group making fake diplomatic and government number plates.
Ahmed Sanusi, commissioner of Police FCT, stated this during a press briefing on Friday.
He explained that criminals use these fake plates to dodge security checks and enter restricted areas.
The investigation started soon after Sanusi took office.
He noticed too many unauthorized cars driving around with official government and diplomatic tags.
“I immediately ordered a comprehensive investigation into this disturbing trend,” Sanusi said. He noted that these individuals use the plates as a cover to commit crimes and avoid arrest.
The police have already arrested several people caught using the fake plates.
They have also figured out who is making them.
The manufacturers operate outside Abuja, and police are actively hunting them down.
Sanusi kept their names secret so they would not flee.
He stressed that this is a highly profitable illegal business.
Buyers pay between N500,000 and N1.7 million for a single fake plate.
“This will tell you that they are making such huge expenditure because they have an agenda,” Sanusi explained.
“Now they will face punishment that is bigger than both the cost they incur and the agenda they are planning.”
The commissioner urged residents to report any cars with suspicious diplomatic plates.
He reminded the public that real diplomatic tags follow a very specific format.
A diplomatic number plate in Nigeria is a special vehicle identification tag issued to foreign embassies, high commissions, and accredited international diplomats.
Gavi has approved $500 million to strengthen Nigeria’s immunisation programme, primary healthcare services and long-term vaccine financing.
The move followed high-level discussions between Professor Muhammad Ali Pate, coordinating minister of Health and Social Welfare, ]and Dr. Sania Nishtar, chief executive officer, Gavi in Abuja.
The funding, approved under the Gavi 6.0 programme, will support Nigeria’s efforts to accelerate routine immunisation, sustain polio eradication, expand HPV vaccination, strengthen primary healthcare services, and improve long-term vaccine financing.
Speaking during the meeting, Pate said Nigeria was strengthening its partnership with Gavi to accelerate immunisation, expand primary healthcare services, and ensure sustainable financing for vaccines.
He welcomed Gavi’s country-focused reforms, including the introduction of a predictable five-year funding envelope.
Pate said the US$500 million allocation will enable Nigeria to plan more effectively and deliver life-saving vaccines to more children and vulnerable populations.
The minister also revealed that quarterly visits to primary healthcare centreshad increased from about 10 million in 2023 to more than 45 million, reflecting significant progress in revitalising the country’s primary healthcare system.
Pate welcomed the announcement of a US$600 million pledge by the United States government to Gavi, describing it as a strong endorsement of the alliance’s leadership and the global value of vaccines.
He also commended Nishtar for prioritising Nigeria and praised the closer coordination among Gavi, World Health Organisation (WHO), UNICEF, World Bank, Gates Foundation, and other development partners, describing it as a model that has improved efficiency and aligned support with Nigeria’s health sector reforms.
The minister expressed appreciation to Gavi and its partners for their continued technical and financial support, while calling on state governments to invest more in healthcare and immunisation to complement federal efforts.
For many women, financial independence means the freedom to provide for their families and build a better future. Yet, this remains out of reach due to limited access to opportunities, business support, and secure payment solutions.
Like millions of women in Nigeria determined to be financially independent, Pricillia started with a single PalmPay POS terminal, and as an agent, every successful transaction provided a commission which brought her one step closer to achieving her dream.
Through consistency, discipline, and support from the payment platform, she reinvested her earnings and eventually opened her own provision store.
“I started as just a PalmPay agent with one POS. The consistency of the platform gave me the confidence to expand. With the income I earned, I was able to open my own provision shop.” Priscilla said.
For Priscilla, PalmPay was more than a payment platform. Its secure payment infrastructure gave her the confidence to serve her customers, build trust, and grow her income.
Today, Pricillia has joined the statistics of SMEs powering Nigeria’s economy and PalmPay continues to support her daily operations, helping her receive payments, as she works towards her next business milestone. Her journey is a reminder that when women have access to secure financial tools and opportunities, they can build lasting economic independence.
Speaking on Pricillia’s journey, Femi Hanson, Head of Marketing, PalmPay said: “Providing a secure platform that users can trust, whether for everyday payments or high-value transactions, is central to our vision of advancing financial inclusion. Priscilla’s story reflects our commitment to supporting the ambitions of Nigerians by providing a platform they can rely on to grow their finances. After all, seamless banking begins with security, and every successful transaction reinforces the trust our users place in us.”
Priscilla stands among thousands of PalmPay agents nationwide who are helping to expand financial access across Nigeria while earning commissions to create sustainable sources of income for themselves.
Every payment tells a story. It begins with trust, the confidence that your money is secure and that financial services are accessible. And when that opportunity reaches women, it creates ripple effects that transform families, strengthen communities, and drive economic growth.
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