3PL company Sitics Logistic acquires logistics tech startup Quifers

May 11, 2021: The third party logistics company 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,” reads the release.

It is an ISO 9001-2015 company, powered by 4,500+ employees, with a presence in 5 countries, managing about 130+ projects, across 7+ sectors. Sitics combines infrastructure, expertise, and technology to design and deliver supply chain solutions across the world.

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 fulfilment and the technology. It is expected to increase the combined entity’s revenue by at least 20 percent. Both these companies target manufacturers, distribution companies, and e-commerce 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 the EU with its global presence.

Sikander A M, founder and CEO, Sitics Logistic Solutions, said, “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 fulfilment 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”.

Haridas T, co-founder and COO, Sitics Logistic Solutions, said, “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”.

Amit Mishra, founder and CEO, Quifers, said, “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”.

Amit Bansal, founder and COO, Quifers, said, “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”.

Quifers has 3 different products under its logistics cloud.

1. Quifers Truck Load Builder: This product is a complete supply chain automation tool for any manufacturing company. It is generally suitable for long haul and intercity movements i.e. for primary and secondary Logistics.

2. Quifers Delivery Management System: This product is a complete ERP for managing last-mile logistics efficiently. It is generally applicable for companies involved with last-mile goods movements like e-commerce delivery companies, courier, retail electronics delivery, and can also be used as a field workforce management tool by various types of companies who have the foot on the street model like banks, Insurance companies, etc.

3. Quifers – On Demand: This product is a complete tool for managing your on-demand logistics by creating an ecosystem of supplies, internal and external stakeholders.