Mahindra Logistics Ltd. (MLL), today announced its acquisition of Meru:
- 100% equity share capital of Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Limited and V-Link Automotive Services Private Limited from Meru Travel Solutions Private Limited (MTSPL) and
- 100% equity share capital of MTSPL from Mahindra & Mahindra Limited (M&M).
The acquisition is a strategic move to consolidate and expand MLL’s business in the enterprise mobility space.
Meru Cabs, a ridesharing company founded in 2006, revolutionized the way people traveled 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.
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 a strategic focus on enterprise customers and electric mobility.
Speaking on the occasion, 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.”