Trade X Acquires Techlantic

By Staff Writer September 07, 2021

Trade X Group of Companies, a global B2B cross-border automotive trading platform, has signed a definitive agreement acquiring Techlantic Ltd., an Ontario-based automotive trading, redistribution, and financing company. The strategic acquisition enhances existing platform capabilities such as trade financing, logistics, and letter of credit processing, and provides additional wholesale automotive trading expertise to the Trade X platform for car dealers, importers, exporters, and fleet owners, rental companies, and mobility solution providers.

Techlantic facilitates all aspects of trade financing, including cash flow management, tax claims, shipping, letter of credit processing, and accounting. It enables automotive trading customers to obtain financing and navigate the complexities of tax compliance and international regulation. Techlantic’s management team will remain in place following the transaction. As part of the Trade X group, Techlantic’s network of suppliers and customers will benefit from Trade X’s efficient processes, automation tools and financing opportunities that Trade X provides.

Trade X and Techlantic closed the transaction on August 31.

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Last modified on Wednesday, 08 September 2021 20:34