In August 2007, CEVA was created from the merger of two great companies with complementary strengths: TNT Logistics and EGL.
EGL
CEVA’s freight management pedigree comes courtesy of EGL, which was founded in Houston, Texas in 1984 as EagleUSA Airfreight. After experiencing strong and rapid growth in the early 1990s, the company initiated a public offering in 1995 and began trading on the NASDAQ.
In 1997 it began to focus on international business and by 2000 EGL was recognized as a global force, with operations in more than 100 countries. To properly reflect its expanded transportation and logistics services, shareholders approved the change of name to EGL Eagle Global Logistics.
In August 2007 EGL was bought by Apollo Management LP and left the NASDAQ. EGL became part of CEVA Logistics at this time.
TNT
Founded in Australia in 1946, TNT steadily developed an enviable reputation in the contract logistics market. In 1996 it was acquired by Dutch postal and telecom company KPN; two years later the telecom and postal divisions of KPN were separated. The new company, called TNT NV, was then organized around three divisions: TNT Logistics, TNT Express and TNT Post.
At the end of 2005 TNT announced its intention to sell its contract logistics activities and in the autumn of 2006 TNT Logistics was sold to affiliates of Apollo Management LP. The company was renamed CEVA Logistics in December 2006.