Delhivery acquires Pune-based firm Algorhythm Tech to boost supply chain

CIOTechOutlook Team | Tuesday, 20 December 2022, 09:01 IST

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Delhivery, a fully integrated logistics service company, announced that it is buying Algorhythm Tech of Pune for an undisclosed sum.

According to the business, the transaction is anticipated to close on January 31. Following the acquisition, Delhivery Ltd. will operate Algorhythm Tech as a wholly-owned subsidiary.

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 optimisation in service delivery," said Sandeep Kumar Barasia, Executive Director and Chief Business Officer, Delhivery.

Through its unique aceRhythm 3.0" platform, Algorhythm provides end-to-end supply chain planning and execution products to clients spanning the FMCG, pharma, steel, auto, and telecom industries. The company was founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar.

"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.

Since its founding, Delhivery has processed over 1.7 billion shipments for over 28,000 clients.

On the government's Open Network for Digital Commerce (ONDC) platform, the network of the logistics services provider is now operational.

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