Arrive Logistics plans 1,000 hires after Mubadala majority investment

Arrive Logistics plans to accelerate hiring, technology investment and expansion into additional freight services after Mubadala Capital agreed to acquire a majority stake in the Austin, Texas-based freight brokerage. The companies announced Thursday that Mubadala Capital , the global alternative asset management arm of Mubadala Investment Co. , entered into a definitive agreement to acquire a majority equity interest in Arrive. Financial terms of the transaction were not disclosed. Existing investors ATL Partners, Lead Edge Capital and others will retain meaningful stakes in Arrive, while the company’s management team is rolling significant equity into the transaction.