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The completion of the transaction is subject to approval from the Competition Commission of India and other customary closing conditions. Gurugram-based Ecom Express, incorporated in August 2012, is an end-to-end technology enabled logistics solutions provider to the Indian retail and e-commerce industry. As of 31 March 2024, the company reported a turnover of Rs 2,607.30 crore. Logistics is a scale-driven sector, where larger operational networks can lead to improved efficiencies and more competitive service offerings. Delhivery stated that this acquisition is intended to enhance its scale and strengthen its value proposition to clients. The increased scale is expected to enable greater investments in areas such as network expansion, network quality improvements (such as automation and electric vehicles), technology investments, and research & development (e.g., robotics and drones). Additionally, the transaction is anticipated to support growth within the broader vendor ecosystem in India. Vendors, such as those providing fleet and automation solutions, may gain the confidence to invest in assets and R&D, ultimately benefiting the overall logistics industry in India. Delhivery is one of India's leading fully-integrated logistics services providers. The company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services. On a consolidated basis, Delhivery's net profit surged 113.4% to Rs 24.99 crore while revenue from operations jumped 8.4% to Rs 2,378.30 crore in Q3 December 2024 over Q3 December 2023. Powered by Capital Market - Live News |