ConnectM to acquire controlling interest in DeliveryCircle for up to $5.2M

ConnectM Technology Solutions has signed a definitive agreement to acquire a controlling interest in DeliveryCircle, a nationwide technology enabled final mile delivery company which connects businesses looking for a last-mile delivery solution, with a complete network of over 500,000 drivers. The acquisition of DeliveryCircle marks ConnectM’s first strategic acquisition since the Company’s public debut last month via a business combination with special purpose acquisition company, Monterey Capital Acquisition Corporation and will expand ConnectM’s operations into the last-mile transportation and logistics vertical in the United States. DeliveryCircle’s transportation and logistics technology and provider network is an adjacent electrification opportunity in the markets of ConnectM’s current operations. Under the terms of the Purchase Agreement, ConnectM will acquire a controlling interest in DeliveryCircle for a purchase price of up to approximately $5.2 million. The transaction closed on August 5, 2024. Aligned with ConnectM’s M&A growth strategy, DeliveryCircle enables business owners to focus on their core operations by managing last-mile delivery needs. ConnectM will leverage Decios, DeliveryCircle’s mobile app-based technology, and its extensive network of independent contractors, to optimize delivery routes and manage dispatch operations across the USA. DeliveryCircle’s asset-light business model, which relies on agile capacity and low overhead, presents a seamless integration opportunity for ConnectM’s connected operations and fleet electrification mission. With a strong emphasis on customer satisfaction and technological innovation, DeliveryCircle leads in logistics solutions based on a zero-asset model.