Earlier this month, India’s largest third party logistics company, Delhivery, acquired its biggest rival Ecom Express in a $165 million distress sale. The acquisition could not have come at a better time for both parties.
Things have been tough for Ecom for some time now. The company, in fact, called off its IPO plans just this February, about six months after filing the papers and ended up laying off hundreds of its employees.
Meanwhile, Delhivery has been soldiering some tough times too. By acquiring its floundering rival, Delhivery seems to be going all out to claw back some business. But is that enough?
Tune in.
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