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Mahindra Logistics acquires Meru Cabs; Stock trades higher

With this acquisition, MLL will enhance its range of mobility solutions with a strategic focus on enterprise customers and electric mobility.

November 10, 2021 12:20 IST | India Infoline News Service
Mahindra Logistics
Mahindra Logistics (MLL) announced the strategic acquisition of Meru to consolidate and expand its business in the enterprise mobility space. The addition of Meru under the company's brand will further strengthen M&M's logistic arm's mobility business.

MLL is already a leader in its Enterprise Mobility Service (ETMS) business, which operates under the ‘Alyte’ brand.

Key highlights of the deal are:
  • 100% equity share capital of Meru Mobility Tech, V-Link Fleet Solutions and V-Link Automotive Services from Meru Travel Solutions (MTSPL) and
  • 100% equity share capital of MTSPL from Mahindra & Mahindra (M&M).
With this acquisition, MLL will enhance its range of mobility solutions with a strategic focus on enterprise customers and electric mobility.

Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Ltd. said, “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, 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 its fleet.

At around 12.17 pm, MLL was trading at Rs706.85 per piece up 0.5% on Sensex. The stock has touched an intraday high of Rs722.55 per piece.

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