Logistics service provider Delhivery is acquiring Pune-based Algorhythm Tech that delivers planning and optimization solutions for enterprise supply chain operations.
The company said the transaction is expected to be completed by January 31 and post the acquisition, Algorhythm Tech will operate as a wholly-owned subsidiary of Delhivery.
“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,” said Sandeep Kumar Barasia, Executive Director and Chief Business Officer, Delhivery.
Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm offers supply chain planning and execution products to clients across FMCG, pharma, steel, auto and telecom sectors, through its aceRhythm 3.0 platform.
Delhivery has fulfilled over 1.7 billion shipments since inception and works with over 28,000 customers.