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Austin Ventures Buys Logistics Firm

Austin Ventures has acquired a portion of Kansas-based logistics firm, YRC Logistics, in a deal worth $37M, according to YRC Worldwide Friday. According to YRC, it is selling a portion of its YRC Logistics business to Austin Ventures, to form the basis of a new, private firm owned by Austin Ventures. The new company will focus on international freight forwarding, customs brokerage, transportation management, truckload services, and dedicated warehouse and fulfillment services.