Delhivery, a logistics company with its headquarters in Gurugram, announced that it is buying Pune-based Algorhythm Tech Pvt. Ltd., a supply chain technology company.
Delhivery stated that the transaction is expected to close on January 31, 2023.
Algorhythm Tech will operate as a fully-owned subsidiary of Delhivery Limited following this 100% acquisition.
Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar founded Algorhythm in 2003. Through its proprietary Rhythm 3.0 platform, Algorhythm provides end-to-end supply chain planning and execution products to clients across the FMCG, pharma, steel, auto, and telecom sectors.
Sandeep Kumar Barasia, Executive Director and Chief Business Officer, said, “Given that technology has 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 also drive cost optimisation in service delivery.”
Ajit Singh, Co-founder of Algorhythm Tech, said, “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.”