Sitics Logistics Solution has recently announced their acquisition of Quifers. It is a logistics tech startup that mainly focuses on logistics and the development of disruptive technologies. According to their deal, Sitics will take possession of a majority of the stake of Quifers for an undisclosed sum.
With this investment the Quifers will help Sitics to get a greater value chain at a global level, that is in the 3PL market. Through this Sitics would entirely leap up from “Solution-based service provider” to a more advanced “Technology-based service provider”. The operational excellence of Sitics and Quifers technology together would provide immense value for the customer of both the companies which would, in turn, bring great transparency, control and cost-efficiency. The two main advisors of this transaction include the Backwater Capital Advisors LLP is an investment firm based in Kochi and the other investor is Indus Advisors Pvt Ltd is a boutique investment banking firm.
This cooperation would unlock various tremendous opportunities in the cross-selling and up-selling divisions for both the companies as they both together could offer a great and comprehensive package that could have both technology and fulfilment. It is anticipated that this combined deal would bring about at least 20% revenue. They mainly aim at manufacturers, distribution companies and even e-commerce companies who belong to the various scales of our society. This procurement also expects to put these companies in a more superior and better position for accessing the current opportunities arising in the tech base supply chain boom. Sitics has also planned to take Quifers to a more global level across the globe with its global presence which includes countries like Singapore, Malaysia, Australia, Thailand, UAE.
Mr Sikander A M, the Founder and CEO of Sitics Logistics Solutions Pvt. Ltd shared that “Sitics with this acquisition believes to boost our digital transformation. We see enormous advantages for our clients as this increases the efficiency by using the Quifers platform. We strongly believe that Quifers platform has the potential to become one of the best supply chain platforms in the world”.
Mr Amit Mishra, the Founder and CEO of Quifers commented that “We have been building our company with a positive vision to become the one to go player for any customer for all their logistical needs. With this deal, we believe to achieve our vision in a more accelerated form”.