Trackon, a New Delhi-based courier service company, has been taken over by e-commerce-focused logistics company Xpressbees in an all-cash deal.
The acquisition will help Xpressbees penetrate the SME courier industry without announcing the size of the agreement. Xpressbees intends to increase Trackon’s presence in smaller villages and cities in eastern India, as reported by The Economic Times.com.
“We will expand Trackon using our network and also look at cross-selling our existing services through the franchise network of Trackon,” Saha said.
Trackon will be expanded across the nation, according to Xpressbees CEO Amitava Saha, by utilizing the network already in place at his shipping company.
“Trackon is a Rs 350-crore revenue firm and with our scale and reach the combined strengths will help improve the bottom line of our firm as well,” Saha said, adding there will be technology-led improvements for Trackon going forward.
The business will continue to be run by Trackon’s founder and CMD, Prabhat Kumar Anand, for a minimum of the next two years, and the acquisition will not result in any changes to the company’s brand.
The fastest-growing express logistics service company in India, Xpressbees, was founded in 2015 and offers complete supply chain management. Their B2B Xpress, B2C Xpress, Cross-border, and 3PL (Third Party Logistics) logistics solutions provide an advantage in speed, accuracy, and scalability. They have quickly established themselves as trustworthy logistics partners for the greatest names in e-commerce, health care, food, heavy machinery, financing, and automotive thanks to a supply chain that reaches over 2000 towns and cities nationwide.