TriumphPay to acquire HubTran for $97m.

TriumphPay, a payment processing platform, agreed to acquire HubTran, a cloud-based provider of automation software for the transportation industry's back-office, for $97m. "Combining TriumphPay and HubTran will allow us to create a fully integrated payments network for transportation servicing brokers and factors. The network will be open to all joining participants and will provide tools and services to create frictionless presentment, settlement and payment of invoices in transportation. The future of freight payments looks very different starting today, and we are excited to bring this transformational product to the industry for the benefit of all participants," Jordan Graft, TriumphPay CEO.