Bangalore-Based AssetTrackr Acquired By WABCo
The global supplier of services and technologies, Wabco, which builds safety, connectivity, and efficient solution for commercial vehicles, declared that it is spreading its fleet management solutions business in India. The company has acquired a Bangalore-based FMS provider, AssetTrackr.
Wabco inked the agreement to buy 100% shares of AssetTrackr. The contract, subject to expected circumstances standard, is projected to close by the Q4 2017.
AssetTrackr is the company that aids the commercial vehicles owners to track, analyze, and optimize fleets, assets, and resources in real time. The FMS startup uses telematics hardware and cloud-based fleet management software, which facilitates fleet operators to hook up the vehicles, cargo, drivers, and to supervise the significant data. The system captures data such as route deviations, detect unauthorized stoppages, arrival and departure time, and also minimizes delays. With this mechanism, it helps to enhance the safety of the fleet vehicles and boost operational efficiency. The company was established in 2013.
The acquirer, Wabco says it will merge its own telematics solution with the AssetTrackr’s system expertise and local market with an intention to develop tailored made products specifically for India. Through the unification of the domain expertise and complementary system from both the organizations, Wabco integrated its dedicated FMS, Vehicle Tracking System (VTS) and was previously launched in 2015 along with the portfolio of AssetTrackr. And now this acquisition will result in the development of products for India’s fleet operators and commercial vehicle manufacturers relying on most reliable telematics capabilities.
Chairman and CEO of Wabco, Jacques Esculier said, “The company is bonded to develop its dominating fleet management solutions that are accessible to the operators of commercial vehicles globally. With the acquisition of AssetTrackr, we can take control of the integration of startup’s local market potential and network and Wabco’s industry-leading efficient & safety technologies and commercial vehicle system proficiency.
At present, in India, only 2% of commercial vehicles are equipped with the telematics system, which means there is an availability of the untapped opportunities and significant growth aspect. This will probably place both the companies in a better position in the coming period.”
“The merged system of both, Wabco and AssetTrackr, will no doubt help innovate more advanced mechanism to make the transportation safe and efficient. This will not only aid India but also in swiftly developing markets around the globe,” Esculier added.
The fleet management system is becoming a crucial part in commercial fleet businesses and with the steps like this, it is expected to be installed in the majority of the commercial vehicles globally.