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Delhivery has acquired Bengaluru-based Spoton Logistics to strengthen its business-to-business (B2B) vertical ahead of a planned initial public offering (IPO). The company did not disclose the financial terms of the Delhivery-Spoton deal, but sources in the know said the acquisition was an all-cash transaction worth $300 Mn.
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"This development is consistent with our objective of being growth-oriented and building scale in each of our business lines,” said Sahil Barua, chief executive officer of Delhivery. “Over the last 10 years, Delhivery has established a leading position in B2C logistics, and now by combining our truckload business with Spoton's, we will be on the path to the same position in B2B express as well.”