Third-party logistics (3PL) company Sitics Logistic Solutions has announced the acquisition of Quifers, a logistics tech start-up , with an aim to revolutionising logistics and developing disruptive technologies. As per the deal, Sitics will acquire majority stake in Quifers for an undisclosed sum.
The acquisition of Quifers would go to a great extent in elevating Sitics’ value in the global 3PL market. The tech start-up would transition from a “Solution-based service provider” to a “Technology-based service provider”.
By bringing in greater transparency, control and cost-efficiency, Sitics’s operational excellence with Quifers technology stack would unleash tremendous value addition to the customers of both the companies.
Furthermore, the combination is primed to unlock tremendous cross-selling and upselling opportunities for both the companies as the combined entity would be able to offer a comprehensive package, which includes fulfillment and the technology. It is expected to increase the combined entity’s revenue by at least 20 per cent.
Both these companies target manufacturers, distribution companies, and e-com companies of various scales. With the acquisition, the two companies can leverage opportunities arising out of the current tech base supply chain boom.
Sitics also has plans to expand the network of the Quifers platform to Singapore, Malaysia, UAE, Thailand, Australia, and EU with its global presence.
“Sitics goal to digital transformation will get a boost with this acquisition. We see tremendous advantages for our clients by increasing efficiency and reducing costs by using the Quifers platform. Sitics’s fulfillment capabilities and Quifers’s tech capability would act as a force multiplier for the customers, and we are confident it would enhance the customer’s delight”.~Sikander A M – Founder and CEO, Sitics Logistic Solutions Pvt. Ltd
“We have been building Quifers with a vision to become a go to player for any customer for all of their logistics needs. Up till now, we have solved one end of the problem with our product related approach. With Sitics integrating Quifers product with its operational capability, achieving our vision for Quifers becomes much more accelerated.”~Amit Mishra – Founder and CEO, Quifers