Xpressbees acquires Trackon to scale up existing network

Logistics unicorn Xpressbees has acquired the courier firm Trackon in an all-cash transaction to enter the SME courier space. The deal would leverage Xpressbees’ existing network to scale up Trackon nationwide, said reports. Trackon has primarily focused on the northern and western parts of the country, serving around 5,000 pin codes. Xpressbees is present across 15,000 pin codes. “We will expand Trackon using our network and also look at cross-selling our existing services through the franchise network of Trackon,” Amitava Saha, the CEO of Xpressbees, said in a statement. “I firmly believe it will empower our respective businesses, change consumer experience for the better, and enable us to build significant synergies across the two organisations,” added Saha. As part of the deal, Prabhat Kumar Anand, founder and CMD of Trackon, will continue to lead the business for at least the next two years. Cofounders Pramod Kumar Singh, Dinesh Rautela and Yoginder Kumar Dabas will move on as part of the acquisition. “Our partnership with Xpressbees enables us to scale up our business and reach quite significantly. By combining our experience with the capabilities of Xpressbees we will be able to expand our service lines to our existing clients while continuing to offer best-in-class services,” said Anand.