M&A

M&A

Logistics aggregator Shiprocket acquires Arvind's tech biz Omuni for Rs.200-Cr

Press Release   Economic Times  

Temasek and Zomato-backed logistics aggregator Shiprocket has acquired Omuni, the omni-channel technology business of apparel manufacturer and retailer Arvind Ltd, for INR 200 crore in a cash-and-stock deal. Omuni and AIL together made INR 24.5 crore in revenue in fiscal 2022. As part of the deal, Arvind Ltd will transfer Omuni to Arvind Internet Pvt Ltd (AIL), which houses the group's software-as-a-service technology business, for INR 152.30 crore in AIL shares. It will then be transferred to BigFoot Retail Solutions Pvt Ltd, which owns Shiprocket. Arvind Ltd would get an over 2% stake in Shiprocket as part of the deal. For Shiprocket, the transaction will enable faster deliveries of shipments to consumers from the nearest store or warehouse. Last month, Shiprocket acquired Pickrr in a USD 200 million deal.