Delhivery acquires Spoton as Samara Capital, Xponentia exit

New Delhi, Aug 25 (SocialNews.XYZ) Logistics and supply chain services company Delhivery is acquiring Bangalore-based Spoton Logistics for an undisclosed amount by picking up the entire stake of Samara Capital and Xponentia in the company.

Samara Capital and Xponentia that together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.

The acquisition will further strengthen Delhivery's existing B2B capabilities and enhance its end-to-end supply chain management.

"This development is consistent with our objective of being growth-oriented and building scale in each of our business lines. Over 10 years Delhivery has established a leading position in B2C logistics and now by combining our part truckload business with Spoton's we will be on the path to the same position in B2B express as well. More importantly, we are well placed to provide benefits of synergies between our B2C and B2B express businesses to the customers of both Delhivery and Spoton, and further enhance our end-to-end supply chain capabilities," said Sahil Barua, CEO, Delhivery.

Abhik Mitra, Managing Director, Spoton Logistics, said, "We will continue to invest in improving our clients' businesses through our investments in people, technology, network and infrastructure. Our teams and our business partners will have an opportunity to be part of a much larger organization with significant opportunities for growth".

Sandeep Barasia, Chief Business Officer of Delhivery, also added, "Our combined scale and focus on technology and data will enable us to develop new solutions for our customers and allow us to enter new verticals in freight".

Kotak Mahindra Capital Company acted as the financial advisor and Shardul Amarchand Mangaldas & Co. acted as the legal advisor to Delhivery on this transaction

Source: IANS