11:51 AM EST, 11/25/2024 (MT Newswires) -- Schneider National ( SNDR ) said Monday its units have agreed to buy Cowan Systems and its affiliates for roughly $390 million in cash.

Following the completion of the deal in Q4, Cowan Systems will operate as a unit of Schneider National ( SNDR ), the company said.

The transaction will be funded using existing cash and a $400 million delayed draw-term credit facility, it added.

Schneider National's ( SNDR ) shares were up more than 2% in recent trading.

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