3 weeks ago
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Mumbai-based Pentagon International Freight Solutions Pvt. Ltd. (Pentagon) has announced that it will acquire 5.2% stake in a digital transformation company Pentafox Technologies Pvt. Ltd. in all cash deal for ₹52 lakh.
Pentagon would further acquire another 21.8% stake in next 12-18 months at pre-agreed multiples, the logistic services firm said in a statement.
“This acquisition signifies the confluence of a thriving business model with digital innovation. While we have always been leaders in the realm of logistics, this partnership with Pentafox will add new dimensions to our business as we tap into exciting new digital innovations,” said Pentagon MD Paresh Bhanushali.
Pentagon offers specialist supply chain and logistics expertise for the oil and gas, renewable energy, marine, mining, construction, and aerospace industries for all transportation and logistics requirements. It has offices in Chennai, Bengaluru, New Delhi, Pune, China, Dubai, Kenya and Vietnam.
Pentafox helps clients modernise their businesses online with the power of Cloud and embedded intelligence from a wide range of artificial intelligence/machine learning capabilities. It has offices in Chennai, Coimbatore and Erode.
