On May 6, 2020, the Company formed a new subsidiary subsequently renamed Landstar Blue, LLC (Landstar Blue), which arranges truckload brokerage services while helping the Company develop and test digital technologies and processes for the benefit of all Landstar independent commission sales agents. On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. approximately $2,766,000 cash, plus approximately $200,000 of assumed contingent purchase-price liabilities.
Capabilities acquired
Truckload brokerage servicesdigital freight technology development and testing
On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. Cash consideration paid for the acquisition was approximately $2,766,000. In addition, the Company assumed approximately $200,000 in liabilities consisting of additional contingent purchase price. The resulting goodwill arising from the acquisition was approximately $2,871,000.