McLeod Software recently bought out logistics software company Integrated Logistics Execution Network Systems, known by its acronym "iLENS." The company that provides freight procurement, load execution and spot market software as well as consulting services for shippers, carriers and third-party logistics companies.

"With this acquisition we are extending our reach by adding a complete set of products for shippers to complement our successful truckload carrier and broker offerings," said Tom McLeod, president & CEO of McLeod Software. "The iLENS product line allows us to accelerate our penetration of the supply chain and logistics space, as the new software fits well with and will strengthen the capability of our LoadMaster and PowerBroker products."

By offering a software solution that manages freight procurement and management services for shippers, as well as load execution, McLeod effectively expands what the company can do for current customers, he added.

"The process helps reduce transportation costs for shippers – historically, with iLENS, shippers achieve an annual transportation cost savings of 10 to 20 percent – while providing carriers the opportunity to win freight awards that will strengthen or complement the carrier’s existing lanes and operations." McLeod added.

With the acquisition, iLENS founder Michael Voelk – along with the iLENS’ systems analytics and consulting team – will join McLeod, with Voelk becoming vp of sales-iLENS for McLeod.