Fully integrated logistics service provider Delhivery on Tuesday said it is acquiring Pune-based Algorhythm Tech for an undisclosed amount.
According to the company the transaction is expected to be completed by January 31 and post-acquisition, Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery Limited, as per reported by The Economic Times.
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“Given that technology has been and will continue to be our core business differentiator, Algorithm Tech’s SCM software products will enhance our supply chain solution offering with value-added service delivery,” Sandeep Kumar Berasia, Executive Director and Chief Business Officer, Delhivery said.
Delhivery is one of the largest and fastest-growing fully integrated players. It offers a complete suite of logistics services such as Express Parcel Transportation, PTL Freight, TL Freight, Cross Border, Supply Chain, and Technology services.
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“Delhivery has made great strides in a decade to emerge as the largest logistics provider in India, we could not think of a better team or company to work with to accelerate our combined vision for the future ‘ said Ajit Singh, cofounder of Algorhythm Tech.”
In 2003, Sandeep Pendurkar, Ajit Singh, and Abhaya Borwankar founded Algorhythm Tech. Through its proprietary aceRhythm 3.0 platform, the company provides end-to-end supply chain planning and execution tools.
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Delhivery is the largest and fastest growing fully-integrated player in India by revenue in FY2021. Their objective is world-class infrastructure, logistics operations of the highest quality, and state-of-the-art engineering and technology capabilities. Delhivery was established in the year 2011, its major branch is located in India. Delhivery was founded by Sahil Barua, Suraj Saharan, Kapil Bharati, Mohit Tandon, and Bhavesh Manglani.
Their mission is to enable customers to operate flexible, reliable and resilient supply chains at the lowest cost. They provided supply chain solutions to a diverse base of over 29200 active customers such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across multiple verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, Automotive, and Manufacturing.