Search
Delhivery acquires Spoton logistics ahead of IPO
August 26, 2021
Delhivery has acquired Bengaluru-based Spoton Logistics to strengthen its business-to-business (B2B) vertical ahead of a planned initial public offer (IPO).
The organization didn’t unveil the financial terms of the Delhivery-Spoton deal, yet sources aware of everything said the acquisition was an all-cash transaction worth $300 million.
“This development is consistent with our goal of being growth-oriented and building scale in each of our business lines,” said Sahil Barua, CEO of Delhivery. “Over the last 10 years, Delhivery has set up a main situation in B2C logistics, and now by combining our truckload business with Spoton’s, we will be on the way to a similar path in B2B express as well.”
Spoton began its excursion in 2012 when private equity firm India Equity Partners bought the local business from TNT India. In 2018, the Bengaluru-based organization collaborated with a consortium of investors, driven by Samara Capital and Xponentia Fund Partners, for the next stage of its growth. Both Samara Capital and Xponentia are now exiting the firm.
Important Links:
- Professional Diploma in Banking and Financial Services: https://ask.careers/courses/professional-diploma-in-banking-management/
- Professional Diploma in Digital Marketing: https://ask.careers/courses/professional-diploma-in-digital-marketing/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
