XPO Logistics completed the spin-off of its high-tech truck brokerage business.

XPO Logistics, an American freight transportation company that primarily provides less-than-truckload and truck brokerage services in 18 countries, completed the spin-off of its high-tech truck brokerage business. Financial terms were not disclosed. "Our two core businesses of North American less-than-truckload and tech-enabled truck brokerage are industry-leading platforms in their own right, each with a distinct operating model and a high return on invested capital. We believe that by separating these businesses through a spin-off, we can significantly enhance value creation for our customers, employees and shareholders, as we did with our successful spin-off of GXO last year," Brad Jacobs, XPO Logistics Chairman and CEO.