Media365
Logistics company Delhivery Ltd said it has signed a definitive agreement to acquire a controlling stake in Ecom Express Ltd. for cash consideration of ₹1,400 crore from its shareholders.
Sahil Barua, MD and CEO, Delhivery said, “The Indian economy requires continuous improvements in cost efficiency, speed and reach of logistics. We believe this acquisition will enable us to service customers of both companies better, through continued bold investments in infrastructure, technology, network and people.”
“The founders and management of Ecom Express have established a high quality network and team, creating a strong foundation to integrate into Delhivery’s operations,” he said.
K. Satyanarayana, founder, Ecom Express, said, “Delhivery is among India’s leading fully-integrated logistics service providers with significant scale advantages and will be the ideal shareholder for Ecom Express’ next phase of growth.”
“With this acquisition and its inherent synergies, businesses across India as well as the logistics industry itself will benefit immensely through the combination of two like-minded players,” he added.
The completion of the transaction is subject to approval from the Competition Commission of India, and customary closing conditions.
Published – April 05, 2025 07:10 pm IST
