Monday, April 29, 2013

DTDC Courier acquires 70% stake in Nikkos Logistics

Bangalore: TDC Courier & Cargo Ltd., an express courier company, today announced the acquisition of Bangalore-based Nikkos with majority stake in the company. The joint venture will be 70% owned by DTDC and 30% by the Bangalore-based Nikkos Logistics. The new entity will be called “DTDC Nikkos International Logistics.
 The acquisition of Nikkos complements and expands DTDC’s strategy to offer complete end-to-end logistic solutions to customers in national and international markets. Nikkos logistics solutions will help expand DTDC’s network by linking the domestic offerings globally and vice versa. “The acquisition allows DTDC to combine its strength with Nikkos to penetrate and consolidate its presence globally. Tapping on opportunities will further enable more feet on street, robust infrastructure and delivery capabilities for DTDC around the globe.” said Abhishek Chakraborty, Executive Director of DTDC.
29/04/13 Raghuvir Badrinath/Business Standard