Freemont-based logistics optimisation company LogiNext is in talks to acquire US and Bengaluru-based field service company FieldEZ Technologies Pvt Ltd.
According to sources close to the development, the transaction is expected to be completed in the next few months.
FieldEZ, a field automation technology and consulting firm backed by Chiratae Ventures (formerly IDG Ventures) and IvyCap, currently clocks in around $2 million in annual revenues.
The acquisition is likely to push the combined entity as one of the largest in the routing software market.
When contacted, FieldEZ denied the development.
LogiNext was founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani and helps logistics companies to improve their internal operations, optimize delivery networks and provide customer service using data collection, advanced analytics and visualization.
Through the deal, while Loginext will manage trucks and delivery fleet, FieldEz will help optimise fleet of people like technicians, field engineers, field sales staff, pest control personnel etc.
According to the sources, LogiNext has been focusing on retail, e-commerce and transportation segments for their routing software, and through this deal they will start targeting other verticals including manufacturing, utilities, CPG sales force among others, which will help to accelerate their revenues.
DEALSTREETASIA had recently also reported that LogiNext, which raised its Series A round of $10 million from Alibaba-backed Indian payments major Paytm, is also looking to raise its next round of funding which is said to be in the region of $10 million in a deal likely to close very soon.
In 2016, logistics solutions platform LogiNext had acquired YourGuy, a cross-category last mile delivery company in Mumbai in a mixed cash and equity deal. The deal valued YourGuy at $1.5 million.