Ecommerce focused logistics service provider Delhivery is acquiring Pune-based Algorhythm Tech, which delivers planning and optimisation solutions for enterprise supply chain operations, for an undisclosed amount.
The company on Tuesday said the transaction is expected to be completed by January 31, after which Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery Ltd.
“Given that technology has and continues to be our core business differentiator, Algorhythm Tech’s SCM software products will enhance our Supply Chain Solutions offering with value-added services and also drive cost optimisation in service delivery,” said Sandeep Kumar Barasia, executive director of Delhivery.
Algorhythm Tech was founded in 2003 by Abhaya Borwankar, Ajit Singh and Sandeep Pendurkar in. The company offers end-to-end supply-chain planning and execution products to clients across the FMCG, pharma, steel, auto and telecom sectors, through its proprietary aceRhythm 3.0 platform.
“Delhivery has made great strides to emerge as the largest logistics provider in India in a decade and we can think of no better team or company to work with to accelerate our joint vision for the future,” said Algorhythm Tech’s Ajit Singh.
Delhivery said it has fulfilled more than 1.7 billion shipments since inception and works with some 28,000 customers, including large and small e-commerce participants, SMEs and other enterprises and brands.
The logistics service provider had recently said it is going live on the open network for digital commerce (ONDC), the government-backed e-commerce network. Delhivery said it is ready to begin intercity deliveries on ONDC and that sellers will be able to access the company’s network of more than 18,000 pin codes.
Source: Economic Times