Delhivery, a logistics service provider, will acquire the Pune-based Algorhythm Tech Pvt. Ltd. that delivers intelligent planning and optimization solutions for enterprise supply chain operations.
While the company did not disclose the deal size, it said that the transaction is expected to be completed by Jan 31, 2023. This would be a 100 per cent acquisition post which Algorhythm Tech will operate as a wholly owned subsidiary of Delhivery Limited.
Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm offers end-to-end supply chain planning and execution of products to clients across FMCG, pharma, steel, auto and telecom sectors, through its proprietary Rhythm 3.0 platform.
Sandeep Kumar Barasia, Executive Director and Chief Business Officer, 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 and continues to be our core business differentiator, Algorhythm Tech’s SCM (supply chain management) software products will enhance our Supply Chain Solutions offering with value added services and also drive cost optimization in service delivery.” Ajit Singh, Co-founder, 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.”
