Mahindra Logistics buys 100% equity share capital of Meru Cabs

Mahindra Logistics on Tuesday announced acquisition of Meru Cabs.

The acquisition is a strategic move to consolidate and expand Mahindra Logistics Ltd (MLL) business in the enterprise mobility space.

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"MLL...Today announced its acquisition of...100 per cent equity share capital of Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Ltd and V-Link Automotive Services Pvt Ltd from Meru Travel Solutions Pvt Ltd

(MTSPL) and 100 per cent equity share capital of MTSPL from Mahindra & Mahindra Ltd," the company said in a statement.

Meru Cabs, a ridesharing company founded in 2006, revolutionised 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 the country.

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.

Rampraveen Swaminathan, MD & CEO, MLL 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 MLL to better serve its B2C and enterprise customers with an expanded portfolio of services delivering on a promise of safety, customer excellence and sustainability, Swaminathan said.