Paytm-backed logistics management software provider Loginext Solutions Pvt. Ltd is in advanced talks to acquire India- and US-based field-force management company FieldEZ Technologies Inc., two people in the know told TechCircle.
FieldEZ is backed by IvyCap Ventures and Chiratae Ventures, formerly known as IDG Ventures. The two venture capital firms, which had invested in FieldEZ five years ago, are looking for an exit through the deal, the people said, asking not to be named.
The deal will help Loginext, which had received funding from Paytm in 2015, expand into field-force management. The deal will also add to the international revenue of Loginext, which earns from its software-as-a-service (SaaS) platform for logistics management.
FieldEZ has a presence in the UK, US, Australia and the UAE. It provides digital solutions to manage routing, tracking, attendance and chat services for field-force workers across industries including financial services, home healthcare, consumer goods and retail, delivery and logistics.
FieldEZ, founded in 2011, is headed by Megha Birudavolu, former associate vice-president of carrier software business at Huawei.
Birudavolu denied that any deal discussions were taking place. An email to Loginext went unanswered till the time of publishing the story.
Digital media platform DealStreetAsia first reported the planned development.
In the past, Loginext had acquired concierge service provider YourGuy in a cash-and-equity deal in 2016, with an attempt to start last-mile delivery. However, the company moved to a completely SaaS model and registers close to 70% revenue from international markets.
Loginext competes with companies like FarEye, which raised a funding round from Germany’s Deutsche Post DHL in February 2018. FarEye acquired Dipper, an IoT-powered freight logistics marketplace in November.
