Transportation software firm Transite merges with Conn. company

Transite, a 10-year-old software firm focused on transportation solutions, is merging with Connecticut-based 3Gtms.

The combined firm will be known as 3Gtms and aims to be a growing player in the $800 million-a-year transportation software space.

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Financial terms were not disclosed. The deal was announced Tuesday.

3Gtms will maintain and expand the Transite office in Raleigh with Transite management and employees being retained, a company spokesperson says.

Transite, which currently has 10 employees, has recently been adding personnel, and 3Gtms is looking to hire developers as well as quality assurance personnel, the spokesperson adds.

Geoff Comrie, the founder of Transite, becomes the chairman of the board for the combined company. He also will serve as vice president of strategic relations.

Mitch Weseley, the CEO of 3Gtms, will run the combined company.

The firms focus on transportation management systems. Transportation management was responsible for over $760 million in revenues in 2011 and is expected to reach $1.2 billion in 2016, according to ARC Advisory Group’s 2012 industry report.

“This is exciting news for Transite customers and for the transportation software market as a whole,” said Weseley about the merger. We are doubling the size of the company, almost overnight, to meet the growing demand for our products and to drive improvement and innovation throughout the company. Our products and execution will be unmatched and our customers will be the most successful and satisfied in the industry.”

Weseley is a veteran entrepreneur and executive in the transportation software space. Over a 30-year career, Weseley has built and sold three companies to publicly held companies: