Universal Logistics Holdings, Inc | June 20, 2022
Universal Logistics Holdings, Inc. (NASDAQ: ULH) announced the preliminary results of its modified "Dutch auction" tender offer to repurchase up to 100,000 shares of its outstanding common stock, which expired at 5:00 p.m., Eastern Time, on Wednesday, June 15, 2022.
Based on the preliminary count by Computershare Trust Company, N.A. ("Computershare"), the depositary for the tender offer, approximately 164,189 shares were properly tendered and not properly withdrawn at or below the expected final purchase price of $28.00 per share, including shares that were tendered through notices of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, the Company expects to acquire 164,189 shares at a final purchase price of $28.00 per share, for an aggregate purchase price of approximately $4.6 million. These shares represent approximately 0.62% of the Company's issued and outstanding shares as of May 12, 2022. The total amount of shares expected to be purchased in the tender offer includes the Company's right to increase the tender offer by up to two percent of the Company's outstanding shares and also includes a total of 5,000 shares tendered by Mr. H.E. "Scott" Wolfe, a director of the Company. The determination of the final number of shares to be purchased and the final price per share is subject to confirmation by Computershare of the proper delivery of the shares validly tendered and not withdrawn.
The number of shares to be purchased and the price per share are preliminary and are subject to verification by Computershare and subject to change for a number of reasons, including if some or all of the shares tendered through notices of guaranteed delivery are not delivered within the applicable two trading day settlement period. The actual number of shares to be purchased and the final price per share will be announced following the expiration of the guaranteed delivery period and completion of the confirmation process by Computershare. The final results are not expected to be announced until at least June 21, 2022. Promptly after the announcement, Computershare will issue payment for the shares validly tendered and accepted for payment under the tender offer and will return shares tendered and not purchased in the tender offer.
The Company may purchase additional shares in the future in the open market subject to market conditions and through private transactions, tender offers or otherwise. Under applicable securities laws, however, the Company may not repurchase any shares until June 30, 2022. Whether the Company makes additional repurchases in the future will depend on many factors, including the number of shares purchased in this tender offer, its business and financial performance and situation, the business and market conditions at the time, including the price of the shares, and other factors the Company considers relevant.
The Company has retained Georgeson LLC as the information agent for the tender offer. All questions regarding the tender offer should be directed to the information agent at 866-695-6074 (toll free).
Universal Logistics Holdings, Inc. is a holding company that, through its consolidated subsidiaries, is a leading asset-light provider of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada, and Colombia. The Company's operating subsidiaries offer customers a broad array of services across their entire supply chain, including truckload, brokerage, intermodal, dedicated, and value-added services.
Accenture | July 04, 2022
Accenture (NYSE: ACN) has completed its acquisition of digital engineering and operational technology capabilities from Trancom ITS, a Japanese logistics technology services provider. Terms of the transaction, which Accenture announced on March 28, 2022, were not disclosed.
Approximately 190 Transcom ITS engineers have joined Accenture Industry X in Japan as part of the transaction. They specialize in cloud-based logistics systems and optimizing warehouse operations with IoT and sensor technology. The acquisition strengthens Accenture’s digital engineering, manufacturing and logistics capabilities to offer hyper-automation solutions at scale, which manufacturing and logistics companies in Japan are increasingly demanding.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.
XPDEL | July 08, 2022
XPDEL, a high-tech third-party logistics (3PL) provider, added its latest fulfillment center in Seattle to support local eCommerce and ultra-fast delivery. With fulfillment centers in twelve US cities and three in APAC, XPDEL is emerging as one of the leading solutions for enabling profitable fast delivery.
Like all XPDEL locations, Seattle will operate using industry-leading software technology for fulfillment and logistics. In addition to its private fleet of delivery drivers, XPDEL is fully integrated with multiple national and regional shipping and delivery partners.
XPDEL has been instrumental in supporting the growth of the ultra-fast delivery market, quickly standing-up new fulfillment centers and logistics solutions to meet the demands of its growing customer base of merchants and eCommerce companies.
"We are fortunate to be in a position where we can quickly adapt and grow our network to meet the needs of our customers and their consumers. We are currently the only 3PL provider making deep commitments to the faster than the same day or ultra-fast delivery model, with specialized services that include temperature control for food products. Our ability to add locations quickly and seamlessly, just as we have done in Seattle, allows us to enable growth for our customers."
-Nikki Boone, President of XPDEL
XPDEL fulfills and delivers both direct-to-consumer eCommerce orders as well as retail and other business-to-business orders. Its network supports 2-Day shipping nationwide and same-day delivery in eleven metro areas. XPDEL uses the latest technology that allows live visibility into inventory, order tracking, analytics, and smart shipping.
"I am so proud of our team and its relentless efforts to provide the best possible service for our customers across our network. We are on a mission to help our customers grow. Expanding XPDEL services to Seattle will allow our customers to grow in that market. We have a similar expansion planned for other cities in the US and abroad."
-XPDEL's Founder and CEO, Manish Kapoor
Unlike traditional 3PL service providers, XPDEL's primary focus is to help merchants and product companies grow their businesses. XPDEL enables companies to sell on multiple platforms in multiple marketplaces around the world, and plans to expand its services in the US, Canada, Latin America, APAC, and Europe.
XPDEL is a leading hi-tech 3PL on a mission to enable growth for eCommerce companies. XPDEL operates in North America and India and plans to continue expanding internationally. The company offers a wide range of fulfillment and logistics solutions for eCommerce businesses, including ultra-fast delivery models powered by industry-leading technology platforms. XPDEL clients benefit from live dashboards that provide real-time analytics and actionable data.
SOFTWARE AND TECHNOLOGY,LOGISTICS
Artificial Intelligence Technology Solutions, Inc., | July 16, 2022
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received an order for 5 security robots from a top ranked global logistics company. The order is valued in the low six figures, plus recurring revenue after a set period. Although not named due to confidentiality agreements, the Company indicated that the end-user, an existing client, is a global leader in supply chain management & third-party logistics.
The order is part of a broad expansion of the client’s proven facility security solution. The 4 AVA autonomous access control security robots and 1 TOM visitor management device are expected to be deployed this summer at one of the client’s end-user’s distribution centers. “This is what scaling and expansion looks like,” said Steve Reinharz, CEO of AITX and RAD. “Four weeks ago, this client placed an identical order with us. This Fortune 500 company knows how well the RAD solutions work, and how much money they save the end-user, and now they’re going big. We expect to see similar roll out orders to continue for the foreseeable future,” Reinharz added.
“Every major client of ours, and those in RAD’s sales funnel typically starts slowly, with a single device or two, As they experience the great results, value and savings RAD delivers, we anticipate scaling and broader deployments, just as we’re seeing with this and other clients.”
-Mark Folmer, President of RAD
The Company also confirmed that with this order for 5 RAD devices, the client’s total number of units deployed and/or on order is 44. The Company expects to receive permission from this client to share its name, RAD device use cases and applications in the coming weeks.
According to a recent report by Allied Market Research, the global logistics automation industry was pegged at $49.70 billion in 2020, and is expected to reach $147.38 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030. The report mentions that "several logistics companies have started to invest in industry 4.0 technologies in order to deal with labor shortages issue, and to fulfill rising demand from e-commerce sector. Companies are adopting autonomous robots."
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
AVA (Autonomous Verified Access) is a compact and stanchion mountable unit that provides an edge-to-edge 180° field of vision with advanced access control over gates and other controlled points of entry. AVA takes full advantage of the RAD Software Suite providing an ideal solution for logistics and distribution centers, storage yards, parking structures and lots, corporate campuses; anywhere that increased visibility is needed at a fraction of the cost. At ISC West in late March, AVA was named a winner of the 2022 SIA New Products and Solutions Awards in the category of Access Control Software, Hardware, Devices and Peripherals.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, ROAMEO™, or RAD Light My Way™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.