Freight broker Echo Global Logistics has acquired third-party logistics provider and drayage specialist ITS Logistics, the companies announced Wednesday.

The deal, terms of which were not disclosed, gives privately held Echo, the fifth-largest brokerage in the US, a major network of drayage, intermodal and drop trailer assets.

The combined entity would create a company with $5.4 billion in revenue, Echo said in a statement. The deal is expected to close in the first half of this year.

“This acquisition represents a meaningful strategic opportunity for Echo and our customers,” Echo CEO Doug Waggoner said, calling ITS' products “highly differentiated.”

“By applying Echo's proprietary technology, advanced analytics, and growing AI capabilities to the ITS solution set, we will strengthen our value proposition for a broader range of customers,” Waggoner added.

Founded in 1999, ITS has grown to be a top 10 provider of drayage services.

“Echo's truckload brokerage scale, managed transportation platform, strong cross-border capabilities, and broad multimodal offering — combined with its technology platform and AI-driven innovation — will enable us to elevate our service offerings and provide enhanced value to our customers,” ITS CEO Scott Pruneau said in the statement.

Echo, which was taken private in 2021, said ITS will continue operating with its existing leadership team and customer-facing structure, but will hook into Echo’s technology platform, carrier network, and enterprise commercial capabilities.

ITS also has a robust truckload brokerage and dedicated truckload model that would integrate with Echo's truckload and intermodal brokerage businesses.

The acquisition represents Chicago-based Echo's biggest acquisition since its $420 million purchase of fellow broker Command Transportation in 2015. Its most recent acquisition came in August, when it bought California-based 3PL FreightSaver for an undisclosed amount.