Zast Logisolutions, the parent organisation of Onmove, said on Monday it has acquired Transin Logistics, which is based in Bengaluru, for an undisclosed sum in an all-cash transaction.

After the acquisition, Onmove will boost its southern India footprint, besides creating an opportunity for it to venture into the port logistics business in the southern part of the country. The acquisition increased Onmove’s annual recurring revenue to Rs 600 crore.

Transin, founded in 2015, is a technology-enabled trucking solution business that operates in port ecosystems across the country for the movement of bulk and bulk-like commodities from port to plant. It has Aditya Birla, Ambuja Cement, ITC, Adani, and Nuvoco in its client base.

Onmove, backed by venture capital firm Oliphans Capital, is a tech-enabled trucking aggregation platform catering to time-sensitive, reliable services. It was founded by Praveen Jain and Pervinder Singh Chawla in 2016.

Categories: Other News