Mahindra Logistics acquires MeruMAHLOG - 459 Change: -12.90 (-2.74 %)
News: Mahindra Logistics has entered into a share purchase agreement (SPA) to acquire 100% paid-up share capital of Meru Mobility Tech Private (MMTPL), V-Link Automotive Services Private (VASPL), and V-Link Fleet Solutions Private Limited (VFSPL) from Meru Travel Solutions Private Limited (MTSPL), which is a subsidiary of the company. Also MLL has acquired 100% paid-up share capital of MTSPL from Mahindra & Mahindra.
Views: 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 acquisition complements its mobility services portfolio with an expansion in airport ride-hailing and on-call services.