Delhivery, a logistics service provider in India, is set to acquire the Pune-based Algorhythm Tech Pvt. Ltd, which delivers planning and optimisation solutions for enterprise supply chain operations. 

The company said the transaction is expected to be completed by 31 January 2023. It would be a 100 per cent acquisition deal, and Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery Limited after the takeover. 

Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm is known for offering end-to-end supply chain planning and execution products to clients across FMCG, pharmaceutical, steel, auto and telecom sectors through its proprietary Rhythm 3.0 platform. 

Commenting on the latest development, Sandeep Kumar Barasia, executive director and chief business officer (CBO) of Delhivery, said, “We congratulate Abhaya, Ajit, and Sandeep on building a truly differentiated product offering with a great depth, and breadth of coverage across industry sectors and use cases. Given that technology has been 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 drive cost optimization in service delivery.”

Ajit Singh, the co-founder of Algorhythm Tech, added, “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.”