It has been announced that Delhivery, India’s largest fully-integrated logistics service provider, will purchase Algorhythm Tech Pvt. Ltd. of Pune. The business has stated that the deal needs to close by January 31, 2023. If the deal goes through, Delhivery Limited will own 100% of Algorhythm Tech, and the company will become a wholly owned subsidiary.
Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar founded Algorhythm in 2003 to provide its clients in the fast-moving consumer goods (FMCG), pharmaceutical, steel, automobile, and telecommunications industries with comprehensive supply chain planning and execution products via its innovative Rhythm 3.0 platform.
“We congratulate Abhaya, Ajit, and Sandeep for building a very differentiated product offering with tremendous depth and breadth of coverage across industrial sectors and use cases,” said Sandeep Kumar Barasia, Executive Director and Chief Business Officer, in response to the news. Algorhythm Tech’s SCM software products will enhance our supply chain solutions offering and reduce service delivery costs, which is crucial as technology is our main competitive advantage.
Delhivery’s Supply Chain Solutions segment combines data science and business intelligence with its substantial warehouse and transportation operations, infrastructure, network, and technology. This allows the organization to offer comprehensive and integrated logistics solutions that improve supply chain reliability, velocity, and efficiency.
Co-founder of Algorhythm Tech, Ajit Singh, elaborated, “Delhivery has made amazing efforts to emerge as the largest logistics provider in India in a decade, and we can think of no better team or organization to partner with to accelerate our collaborative ambitions for the future.”