Delhivery has agreed to acquire a controlling stake of at least 99.4% in Ecom Express for up to $168 million, aiming to enhance logistics efficiency in India. Delhivery’s CEO Sahil Barua emphasized that the acquisition will improve service for customers through investments in infrastructure and technology. Ecom Express, founded in 2012, specializes in logistics services and had previously filed for an IPO in 2024, which was put on hold due to internal challenges. The deal awaits approval from the Competition Commission of India and other customary conditions.

Source: https://www.stattimes.com/logistics/delhivery-to-acquire-ecom-express-for-168-million-in-all-cash-deal-1354920