Mahindra Logistics Ltd. (MLL), today announced its acquisition of Meru Cabs.
It will also acquire 100 percent equity share capital of Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Limited and V-Link Automotive Services Private Limited from Meru Travel Solutions Private Limited (MTSPL) and 100 percent equity share capital of MTSPL from Mahindra & Mahindra Limited (M&M).
The acquisition is a strategic move to consolidate and expand MLL’s business in the enterprise mobility space.
Meru Cabs, a ridesharing company founded in 2006, revolutionized the way people travelled in cabs by offering AC cabs at their doorstep with a single call. Today, Meru has a significant presence in the airport ride hailing segment and provides on-call and employee mobility services to corporates in India. Meru also has a large number of Electric vehicles in their fleet.
The addition of Meru under its brand, will further strengthen MLL’s mobility business. MLL is already a leader in its Enterprise Mobility Service (ETMS) business, which operates under the ‘Alyte’ brand. With this acquisition, MLL will enhance its range of mobility solutions with strategic focus on enterprise customers and electric mobility, it said in a press release.
Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Ltd. said, “The acquisition complements our mobility services portfolio with an expansion in airport ride-hailing and on-call services. We anticipate significant synergies by leveraging the combined capabilities in supply, technology management and Electric mobility. The combined capabilities of Meru & Alyte will enable us to better serve our B2C and enterprise customers with an expanded portfolio of services delivering on a promise of safety, customer excellence & sustainability.”
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