Transportation management company Hub Group Inc said it bought Dallas, Texas-based freight broker Exel Transportation Services for about $83 million.

Exel had 2010 sales of $717 million. Intermodal -- a fast-growing mode of transportation where freight is moved across multiple transportation platforms such as ships, rails and trucks -- accounted for about 41 percent of the total revenue.

Exel was previously an affiliate of Exel Inc, which is a wholly-owned subsidiary of Deutsche Post DHL.

Hub Group is one of the biggest intermodal marketing companies in the United States. It arranges for the movement of freight in containers and trailers over long distances and negotiates rail and drayage rates for its customers. (Reuters)