On the Move Systems, Inc. (OTCBB:OMVS) announced it is seeking to acquire assets made available in the wake of oil and gas’ economic downturn. The move is set to aid the development of the Company’s on-demand freight platform that is expected to revolutionize the trucking industry.
The Company has sought trucking partners and software designers to develop the platform, and now turns to the purchase of new trucking company assets to broaden its portfolio for the network. The recent decline of oil prices allows the Company to exercise more bargaining power in the pursuit of trucking company assets, as highly leveraged firms look to liquidate assets.
“Oil’s current soft market allows On the Move Systems some exciting opportunities to acquire trucking company assets that would not have been available several months ago. These new assets will let us build our brand and network with special partners to raise our profile in trucking and expand our platform.”
The Company’s on-demand freight platform will capitalize on the nation’s booming “sharing economy,” offering on-demand customized freight carriers under a business model similar to popular sites like Uber and Airbnb. OMVS will continue to build its portfolio and ready a timeline for the platform’s unveiling.
The innovative sharing economy freight platform will allow the company to compete alongside Con-way Freight (NYSE:CNW), SAIA Inc. (NASDAQ:SAIA) and Old Dominion Freight Lines (NASDAQ:ODFL).