Know about one of the interesting acquisitions in business. The Indonesian logistics platform named Waresix has bought Trukita which is a provider of freight and trucking services. The news about it released on Thursday. It is one of the best logistics company in Indonesia.
They acquired the company by $5 million deal. The acquisition of the company will make Waresix focus more on logistics which is one of the largest in the field in Indonesia. It will also be able to develop a range of shippers and transports. Know all the details of Waresix and Trukita here.
The CEO of Waresix Andree Susanto shared that obtaining Trukita which is a first-mile logistics player will enable their company to access the network of ten thousand trucks. Furthermore, they will also be able to receive hundreds of new customers. It will make Waresix stand in the position to get more opportunities in the port logistics market of the country.
The combined efforts of Waresix and Trukita will contribute to the lessening of the costs and also they will be able to effectively use the technology. This will increase efficiency and overall transparency.
The company Waresix gets the backing of Softbank ventures Asia and conglomerate Emteck group. It is currently providing an end to end logistics service that caters to many aspects of the supply chain. Some of the services included are trucking, multimodal transport, warehousing and vendor management.
On the other hand, Trukita is one of the top freight and trucking company. It connects businesses to tech-enabled trucks in the country. It also provides real-time tracking, online payments, supply chain optimisation and business analytics.
The CEO and founder of Trukita Andy Bagun shared that he is also seeing many opportunities to work with Waresix. He is willing to address the inefficiencies of the logistics supply chain of Indonesia. Now Trukita will be able to use the Waresix technology and their trucks and warehouses in Indonesia to serve the clients better. Moreover, they will be able to expand their horizons more than the first-mile space.
Scope for expansion opportunities
As Indonesia is a well-known archipelago the logistics landscape of Indonesia has paved way for many opportunities for innovative plans. The delivery costs in the place are high and the process many times proves inefficient that is why the there is room for improvement.
Lots of startups have appeared in the market however some of the businesses have become upstream only three years ago. But the upstream still has some issues. So the market is high and there are lots of areas that require improvement. Waresix is one of the logistics players along with Shipper, Kargo technologies and Ritase. They raised the funds for this year. The Waresix was able to raise $111 million which is more than the other companies.
Conclusion
Waresix acquisition of Trukita has met with good reception. It will enable the companies to put their mind together and correct the inefficiencies in the market. The companies are positive about it.
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