Mahindra Logistics Ltd. (MLL) has announced the acquisition of 100% equity share capital of Meru Mobility Tech Private Ltd., V-Link Fleet Solutions Private Ltd., and V-Link Automotive Services Private Ltd. from Meru Travel Solutions Private Ltd. (MTSPL) and 100% equity share capital of MTSPL from Mahindra & Mahindra Ltd. (M&M).
“The acquisition is a strategic move to consolidate and expand MLL’s business in the enterprise mobility space,” the company said in a filing.
Meru Cabs was founded in 2006. Today, it 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,” the company said.
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,” he added.
