KARACHI, Pakistan, Oct 5 (Reuters) - Pakistani ecommerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEx (UNIV.PSX) the only listed Express Courier Logistics Company in Pakistan, it told Reuters on Thursday.
"We are carving out and acquiring the e-commerce logistics business which currently operates under the brand name BlueEx.
This is not an acquisition of Universal Network System Limited as a whole," said Salman Allana, founder and CEO of Rider.
If the transaction goes through, this will be the first acquisition of a listed company by a startup, and the first major acquisition of a company listed on Pakistan's Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PAKS.PSX).
While Rider has not disclosed the transaction value, it claims the acquisition will make Rider the third largest player in the ecommerce logistics space.
Persons:
Salman Allana, Rider, Allana, Ariba Shahid, Michael Perry
Organizations:
Express Courier Logistics Company, Reuters, Venture, Universal Network System, Pakistan Stock Exchange, GEM, YCombinator, Global Founders Capital, Flexport, i2i Ventures, Fatima, Ventures, Soma, Rebel Fund, Thomson
Locations:
KARACHI, Pakistan, Karachi