Software firm Overhaul acquires SensiGuard to become largest In-Transit Supply Chain Cargo Security Provider

CIOTechOutlook Team | Wednesday, 08 February 2023, 03:33 IST

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Sensitech's SensiGuard security services have been acquired by Overhaul, a software-based supply-chain visibility, risk, compliance, and insurance solution for the biggest companies in the world. With this acquisition, Overhaul gains a significant market share for supply chain security and solidifies its position as the pioneer in safeguarding and improving international supply chains.
 
"This is a transformative acquisition for Overhaul," said Barry Conlon, Founder and CEO of Overhaul. "It expands our global footprint, adds hundreds of years of combined supply chain experience to our team, and brings an impressive roster of international clients under our umbrella. With this acquisition, we're not only the largest supply chain security provider, but the most comprehensive providing needed resilience with immediate corrective action. Our platform spans visibility, risk, compliance, and insurance and is well positioned to help our customers safeguard their cargo and discover efficiencies and opportunities on a global scale."
 
By acquiring established offices in Brazil, Mexico, and the Czech Republic, Overhaul expands its global reach. With the same degree of infrastructure in place across Europe, Latin America, and North America, the corporation is now better able to handle genuinely global supply chains. By adding some of the top brands in tech, pharmaceuticals, and other logistics service providers, the deal also broadens Overhaul's book of business.
 
Global shippers continue to struggle with cargo theft, and as thieves refine their strategies and concentrate on high-value items, the need for more protection to safeguard cargo in transit is critical. With the addition of SensiGuard, Overhaul will provide shippers with a complete, real-time solution for reducing the risks associated with theft, damage, chain of custody, and other cargo security threats regardless of where the load may be located throughout the world. Overhaul will also now offer a powerful visibility engine and 24/7 risk monitoring capabilities.
 
"This acquisition is a win for our customers and our employees," said Mark Serafine, Managing Director, SensiGuard. "Our customers and high value shippers will now have access to a more comprehensive set of services across cargo security. We're seeing increased demand amidst serious integrity concerns, and we now have the largest team of world-class supply chain security experts addressing these challenges. Together with Overhaul, we'll advance and deliver the valuable technology to reduce loss ratios and streamline supply chains."
 
With over 350 new personnel supporting SensiGuard services as part of the acquisition, Overhaul's staff more than doubles, bringing with them a wealth of knowledge and skills for assisting businesses in taking charge of controlling supply chain risk. The same executives that will join Overhaul and continue to advance the company's technology and service laid the groundwork for SensiGuard's success.
 
"SensiGuard's proven track record as a leading electronic freight security service for more than two decades speaks for itself," said David Broe, Chief Operating Officer of Overhaul. "Cargo theft is a multi-billion dollar industry and that is just one of the many growing risks to cargo security and integrity that global shippers and logistics providers are grappling with on a daily basis. It is imperative that service providers not only keep pace, but stay ahead with best practices and prevention protocols to meet the challenges of maritime and road transport. With our combined expertise, we can better serve a global market faced with unprecedented risk."
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