MGN Logistics, Inc. Announces stock purchases in Transportation and Logistics Systems, Inc
EASTON, Pa. - June 1, 2020 - PRLog -- MGN Logistics, Inc, a leading provider of IT solutions for the freight management and transportation industry, announced it was acquiring shares of Transportation and Logistics Systems, Inc., in the open market.
"I see huge potential in our two companies joining forces. MGN is well known for our transportation technology and TLSS for expanding its relationship with Amazon," stated Matthew Telesca, CEO of MGN Logistics. "While discussions are in the very early stages, as John begins ramping up to make multiple acquisitions, it only makes sense to have a logistics technology partner to assist them in utilizing one Transportation Management System or TMS. Additionally, since MGN has grown revenue through numerous acquisitions, we are intimately familiar with the intricacies of integrating multiple operating systems into one. I'm very excited to see John execute his plan and I hope we can add value."
About MGN Logistics, Inc.
MGN Logistics is a leading supply chain and logistics management provider. The company's cloud-based TMS supports all modes of transportation including Truckload, LTL, Ocean, Air, Rail, Intermodal and Parcel, providing customers with a powerful, yet easy-to-use, single platform for their entire supply chain. As a cutting-edge pioneer of web-based transportation management solutions, the company's innovative and proprietary TMS was designed by transportation professionals with real-world experience. Visit www.mgnlogistics.com
About Transportation and Logistics Systems, Inc.
TLSS operates as a leading logistics and transportation company specializing in eCommerce fulfillment, Last Mile, two-person Home Delivery and Line Haul services for the world's leading online retailers through its wholly-owned operating subsidiaries, PrimeEFS, LLC and ShypDirect, LLC. For more information about the Company and its subsidiaries visit the Company's website, www.tlss-inc.com, or public filings at SEC.gov.
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