Sunday, April 14, 2024
Outlook.com
Outlook India
Outlook Business

Delhivery To Acquire Algorhythm Tech To Strengthen Integrated Supply Chain Solutions Offering

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 multiple sectors

Delhivery To Acquire Algorhythm Tech To Strengthen Integrated Supply Chain Solutions Offering
POSTED ON December 20, 2022 9:36 PM

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.”

  • Related Articles

    The company said it will study the complaints and is fully cooperating with the Commission's investigation

    EU Accuses Facebook Parent Meta Of Antitrust Breaching

    With Shergill, the brand aims to build its hold in rural India. It strives to create digital banking services, easy, convenient, and accessible in every village in India

    Fintech Firm EzeePay Onboards Jimmy Shergill As Brand Ambassador

    The company claims that users can secure themselves against fraudulent transactions up to Rs 10,000 with this new insurance offering

    Paytm and HDFC ERGO Jointly Launch ‘Paytm Payment Protect’