Truck aggregator Onmove buys Transin Logistics in all-cash deal

Zast Logisolutions Pvt. Ltd, which operates truck aggregator platform Onmove said Monday that it had acquired Hyderabad-based Transin Logistics in an all cash transaction for an undisclosed amount. 

Gurugram-based Onmove said in a statement that the acquisition will boost its southern India’s footprint, besides making room for its foray into port logistics business.  

The buyout further catapulted Onmove’s annual recurring revenue to Rs 600 crore, it added. 

Transin was established in 2015 and is a technology-enabled trucking solution company that transports bulk and bulky commodities from port to port. It has clients like Aditya Birla and Ambuja Cement, ITC and Nuvoco among others.  

“Over the last seven years, we have ingeniously created the bleeding-edge technology that has the potential to propel India’s trucking and logistics industry to greater heights. The aligned business model of Onmove positions us well to revolutionize this sector together by sharing our highly stable and advanced technologies, product expansion capacities, and proficient port ecosystem,” said Sravan Banoth, chief executive officer of Transin. 

Onmove is an tech-enabled trucking platform, supported by Oliphans Capital in 2016. It was founded by Praveen and Pervinder Singh Chawla. 

“This acquisition is our move towards creating a peerless tech-powered truck aggregation platform in India. Onmove intends to use inorganic growth as an active strategy to achieve expansion,” Jain said. 

Zast Logisolutions Pvt. Ltd, which operates truck aggregator platform Onmove said Monday that it had acquired Hyderabad-based Transin Logistics in an all cash transaction for an undisclosed amount. 

Gurugram-based Onmove said in a statement that the acquisition will boost its southern India’s footprint, besides making room for its foray into port logistics business.  

The buyout further catapulted Onmove’s annual recurring revenue to Rs 600 crore, it added. 

Transin, a technology-enabled trucking business, was founded in 2015. It operates in India’s port ecosystem for bulk and bulk commodities. It has clients like Aditya Birla and Ambuja Cement, ITC and Nuvoco among others. 

“Over the last seven years, we have ingeniously created the bleeding-edge technology that has the potential to propel India’s trucking and logistics industry to greater heights. The aligned business model of Onmove positions us well to revolutionize this sector together by sharing our highly stable and advanced technologies, product expansion capacities, and proficient port ecosystem,” said Sravan Banoth, chief executive officer of Transin. 

Onmove is an tech-enabled trucking platform, supported by Oliphans Capital in 2016. It was founded by Praveen and Pervinder Singh Chawla. 

“This acquisition is our move towards creating a peerless tech-powered truck aggregation platform in India. Onmove intends to use inorganic growth as an active strategy to achieve expansion,” Jain said.