Delhivery to acquire Algorhythm Tech
By MYBRANDBOOK
Logistics company Delhivery will acquire Pune-based supply chain software firm Algorhythm Tech Pvt. Ltd. for Rs 14.9 crore in cash to augment its integrated supply chain solutions offering. Delhivery would be funding the acquisition from the proceeds it raised Rs 5,235 crore through IPO this year.
Post the acquisition, Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery. The acquisition helps Delhivery to improve its supply chain business, offering value added service to its customers, while optimizing costs.
Ajit Singh, Co-founder, Algorhythm Tech, said, “Delhivery has made 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.”
Algorhythm Tech provides intelligent planning and optimization solutions for enterprise supply chain operations. The company caters to clients across fast-moving consumer goods, pharma, steel, auto and telecom industry, through its proprietary platform, offering end-to-end solutions.
Sandeep Kumar Barasia, Chief Business Officer of Delhivery, said, “Algorhythm Tech’s supply chain management (SCM) software products will enhance our supply chain solutions offering with value added services and also drive cost optimization in service delivery. These SCM products are becoming vital for supply chain planning and optimization and our clients will have the option of availing the benefits of these as part of our integrated solutions platform.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
Dell Technologies lives by its commitment of driving growth th
Dell believes in an agile approach to innovation that leverages the brighte
Commvault leading the next generation of data protection throu
A valued brand, Commvault reinforces the commitment to protect customer dat
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
DRUVA SOFTWARE PVT. LTD.
RAMCO SYSTEMS Ltd.
TVS ELECTRONICS LTD.
BHARAT ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Debjani Ghosh
Debjani Ghosh is the first woman president of NASSCOM (the umbrella bo...
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
Technology Icons Of India 2023: Rajendra Singh Pawar
Rajendra Singh Pawar is an entrepreneur and businessperson who founded...
PARTNER SPEAKERS
PSU
ITI Limited widening its focus area
ITI Limited is a public sector undertaking company, has manufacturing ...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
VIDEOS
Top 25 Brands
Value-Added Distribution
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
