Sources say one of India’s newest unicorns Delhivery is talks with Blue Dart and Gati to acquire their B2B operations, reported LiveMint.

“Delhivery’s focus is mostly on the e-commerce segment and has shown healthy growth... It’s not an unusual idea to look out for M&As. And since Blue Dart has a pretty strong franchise business in India, it is attractive to Delhivery from a B2B business perspective," a source was quoted as saying in the report.

The development comes, the report said, after the Gurugram based startup raised $413 million in a round led by SoftBank Vision Fund, along with Carlyle Group and Fosun International. The company, which is now valued at $1.5 billion, is interested in Blue Dart since the later has a strong franchise operation in the country, a source told media.

According to a 2018 report by CARE Ratings, India’s logistics industry is expected to be worth $215 billion by 2020-21.

The move is also significant as both Blue dart and Gati posted a significant decline in profit last quarter. Blue Dart reported a 35 percent year-on-year fall in consolidated net profit while Gati posted a net loss of Rs 11.10 crore, the report added.