Mahindra Logistics Ltd, India’s largest third-party logistics service provider, announced the purchase of Meru Travel Solutions Private Limited on November 9. (MTSPL).
Mahindra Logistics Ltd has acquired Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Limited, and V-Link Automotive Services Private Limited from MTSPL for 100 percent of their equity share capital. Mahindra Logistics Ltd hopes to consolidate and develop its enterprise mobility business with this acquisition.
MLL also stated that by incorporating Meru into its brand, the company would be able to expand its mobility solutions, with a strategic focus on business clients and electric mobility. MLL’s Enterprise Mobility Service (ETMS) company, which operates under the ‘Alyte’ brand, is already a market leader.
According to a statement by Mahindra Logistics Ltd’s MD and CEO Rampraveen Swaminathan, “I am pleased to welcome Meru, a pioneering brand in the shared mobility space in India, to the Mahindra Logistics family. 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.”
Meru Cabs is a ride-hailing service founded in India. The firm was founded in 2006 by Neeraj Gupta and is based in Mumbai. This dates back to the days when Mumbai’s streets were dominated by black and yellow cabs (Kaali-peeli taxis). Meru is also known for being one of the first Indian firms to add electric vehicles to its fleet. Meru’s path was hastened by an early investment from True North (previously known as Indian Value Fund Advisors) in 2006. Mahindra & Mahindra now owns the bulk of the firm, which continues to provide a wide range of mobility services to consumers and businesses throughout India.
Meru now serves people and business houses in 24 cities across India with app-based transportation services such as city rides, city rentals, airport transfers, and outstation travel, among other things.
It serves people and business entities in 24 cities throughout India with app-based transportation services such as city rides, city rentals, airport transfers, and outstation trips, among other things.