IBEF: August 26, 2021
Delhivery, a Bangalore-based logistics and supply chain services firm, said on Wednesday that it has acquired Bengaluru-based Spoton Logistics for an undisclosed price, bolstering its current B2B capabilities.
Spoton Logistics is a national leader in multimodal express logistics and supply chain solutions.
“Delhivery has built a leading position in B2C logistics over the last ten years, and now, by merging our half truckload business with Spoton's, we will be on our way to achieving the similar position in B2B express,” stated Mr. Sahil Barua, CEO of Delhivery.
As part of the deal, Samara Capital and Xponentia, who purchased Spoton from IEP in 2018, will make a full cash exit.
“Spoton is recognized for its focus on customer connections and service quality, professional management, technology and engineering, and it puts us poised to be one of India's leading logistics businesses together,” stated Mr. Abhik Mitra, Managing Director, Spoton Logistics.
“Through our investments in people, technology, network, and infrastructure, we will continue to invest in enhancing our clients' companies,” he added.
In July, Delhivery announced that global shipping giant FedEx will spend US$ 100 million in the firm to help India realise its worldwide commerce potential.
In May, Delhivery announced the successful completion of a US$ 275 million initial financing round headed by Fidelity Management and Research Company.
Delhivery's value was projected to increase to nearly US$ 3 billion with the new financing.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.