York Capital-backed MODE to acquire SunteckTTS.

MODE, a portfolio company of York Capital Management and provider of transportation and third-party logistics services, agreed to acquire SunteckTTS, a provider of transportation services. Financial terms were not disclosed. Under the terms of the transaction, MODE will merge with SunteckTTS, with both businesses operating under the MODE brand name going forward. The company will facilitate more than 1.5m annual customer shipments and generate over $2bn of revenue. "In today's increasingly competitive logistics market, the importance of scale, service diversity, and technology cannot be overstated. The combination of MODE and SunteckTTS provides new and existing agents, shippers, and carrier partners a significantly enhanced platform positioned for the future," Ken Forster, SunteckTTS CEO.