Dubai – Mubasher: Delhivey, an e-commerce-focused delivery startup, announced that it has fully acquired the India business of Dubai-based logistics firm Aramex.
“Aramex is entering into a strategic relationship with Delhivery, who shall take over the domestic business of Aramex India,” Hector Crasto, country manager of Aramex India, said.
The acquisition will take effect starting from 1 March 2019.
In India, Aramex will focus on its global competencies of express and freight and continue the international business in the country, Crasto added.
The Gurugram-based e-commerce logistics company noted that the deal was made for an undisclosed sum.
It is worth noting that Delhivery operates more than 30 fulfilment centres across 12 Indian cities.
By the end of 2018, Aramex profits increased by 13% year-on-year to AED 492.6 million.
By 12:52 pm UAE time, Aramex’s stock fell 0.71% at AED 4.17.