Delhivery to acquire Algorhythm Tech
By MYBRANDBOOK
Logistics company Delhivery will acquire Pune-based supply chain software firm Algorhythm Tech Pvt. Ltd. for Rs 14.9 crore in cash to augment its integrated supply chain solutions offering. Delhivery would be funding the acquisition from the proceeds it raised Rs 5,235 crore through IPO this year.
Post the acquisition, Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery. The acquisition helps Delhivery to improve its supply chain business, offering value added service to its customers, while optimizing costs.
Ajit Singh, Co-founder, Algorhythm Tech, said, “Delhivery has made 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.”
Algorhythm Tech provides intelligent planning and optimization solutions for enterprise supply chain operations. The company caters to clients across fast-moving consumer goods, pharma, steel, auto and telecom industry, through its proprietary platform, offering end-to-end solutions.
Sandeep Kumar Barasia, Chief Business Officer of Delhivery, said, “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. These SCM products are becoming vital for supply chain planning and optimization and our clients will have the option of availing the benefits of these as part of our integrated solutions platform.
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