CEVA was formerly known as TNT Logistics, a division of TNT which was founded in Australia in 1946. In 1999, a logistics division of the company was created. On 23 August 2006, TNT N.V. announced that it has signed a Sale and Purchase Agreement to sell its logistics division to Apollo Management L.P., a U.S. private equity firm.[2] The new name and logo were announced on 12 December 2006. On 2 August 2007, CEVA announced the completion of its merger with Houston (U.S.) based EGL (Eagle Global Logistics), which was rebranded to CEVA on 30 November 2007. [3]