Sitics Logistic Solutions acquires Quifers
Sitics Logistic Solutions announced the acquisition of Quifers, a logistics tech startup revolutionizing logistics and developing disruptive technologies. As per the deal, Sitics will acquire a majority stake in Quifers for an undisclosed sum.
The acquisition of Quifers would put Sitics up the value chain in the global 3PL market. Sitics would transition from a “Solution-based service provider” to a “Technology-based service provider”. Sitics’s operational excellence with Quifers technology stack would provide tremendous value addition to the customers of both the companies by bringing in greater transparency, control, and cost-efficiency. Backwater Capital Advisors LLP, an investment advisory firm based out in Kochi, and Indus Advisors Pvt Ltd a boutique Investment banking firm were the advisors to the transaction.
The combination would unlock tremendous cross-selling and upselling opportunities for both the companies as the combined entity would 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%. Both these companies target manufacturers, distribution companies, and E.com companies of various scales. The acquisition is also expected to put these companies in a better position for tapping opportunities arising out of the current tech base supply chain boom. Sitics is also planning to take the Quifers platform to Singapore, Malaysia, UAE, Thailand, Australia, and EU with its global presence.
Quote from Sikander A M – Founder and CEO, Sitics Logistic Solutions Pvt. Ltd.
“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”.
“We believe that Quifers platform has the potential to be the best supply chain platform in the world”.
Quote from Haridas T – Co-Founder and COO, Sitics Logistic Solutions Pvt. Ltd.
“We are delighted to have Quifers onboard. With Quifers, we shall be able to provide a comprehensive package, which includes solutions and the technology, which will add a greater degree of control and cost optimization to the whole supply chain process. Also, there is a good overlap between the target customers of Sitics and Quifers. Both these companies target manufacturers, distribution companies, and E.com companies of various scale. Hence, there can be a unified and efficient sales process”.
Quote from Amit Mishra – Founder and CEO, Quifers
“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. Sitics has been doing some tremendous work in making logistics more efficient and user friendly in India and abroad and I believe Sitics and Quifers coming together and exploring synergies would hugely benefit both the companies as well as the other stakeholders in the logistics ecosystem”.
Quote from Amit Bansal - – Founder and COO, Quifers
“Sikander and team are very clear with their vision and aggressively committing resources to make that happen. I think a bundled offering of Technology + Operational Services will make a much stronger value proposition for customers”.