Delhivery has not disclosed the amount of their deal
Fully-integrated logistics service provider Delhivery on Tuesday said it is acquiring Pune-based Algorhythm Tech. However, Delhivery has not disclosed the amount of their deal.
Algorhythm Tech delivers planning and optimization solutions for enterprise supply chain operations.
Algorhythm was founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar. It offers end-to-end supply chain planning and execution products to clients across FMCG, pharma, steel, auto, and telecom sectors, through its proprietary aceRhythm 3.0 platform.
The company said the transaction is expected to be completed by January 31 and post the acquisition, Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery Ltd.
“Algorhythm Tech’s supply chain management (SCM) software products will enhance our supply chain solutions offering with value-added services and also drive cost optimization in service delivery,” said Sandeep Kumar Barasia, Executive Director and Chief Business Officer, Delhivery.
“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 Ajit Singh, Co-founder, Algorhythm Tech.
Delhivery has fulfilled over 1.7 billion shipments since inception and works with over 28,000 customers. The logistics services provider’s network is now live on the government’s Open Network for Digital Commerce (ONDC) platform.
[With Inputs from IANS]
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