RXO Becomes Third-Largest Freight Broker With Coyote Deal

UPS sold Coyote Logistics, a freight brokerage firm founded in 2006, as part of the package delivery giant’s strategy to focus more on its core small-package delivery business. UPS purchased Coyote in 2015 for $1.8 billion, but with the sale, UPS appears to be refocusing on what CEO Carol Tomé described as “premium small-package” services.