WABCO acquires India-based telematics startup AssetTrackr
Commercial vehicles supplier WABCO Holdings expands global fleet management capabilities by wholly acquiring the business of AssetTrackr, a Bangalore-based startup
Belgium-based commercial vehicles supplier WABCO Holdings has expanded its global fleet management solutions (FMS) business by wholly acquiring the business of AssetTrackr, a Bangalore, India-based provider.
The startup’s cloud-based FMS software tracks vehicle departures and arrivals, detects unauthorised stoppages and route deviations, calculates optimal delivery routes and monitor driving behaviour.
WABCO now plans to combine its Vehicle Tracking System (VTS), a dedicated fleet management solution launched in September 2015, with AssetTrackr’s portfolio to create products for commercial vehicle OEMs and fleet operators, with a focus on India.
“With the acquisition of AssetTrackr, we can leverage and combine WABCO’s commercial vehicle systems expertise and industry-leading safety and efficiency technologies with AssetTrackr’s deep, local-market capabilities to serve customers in India,” said Jacques Esculier, CEO at WABCO.
“Today less than 2% of India’s commercial vehicles have telematics capabilities, presenting a huge opportunity that WABCO and AssetTrackr will be well placed to fulfil.
“The integration of the real-time data gathered from WABCO’s on-board systems with AssetTrackr’s asset tracking, analytics and optimisation services will help fleet operators to drive operational efficiency and vehicle safety in India and in other rapidly developing markets worldwide.”
WABCO also has an edge in terms of interfacing since many of the on-board vehicle control systems used globally for the braking, stability control, door-lock and tyre monitoring technologies in trucks, buses, trailers, and off-highway vehicles are also made by WABCO.
“WABCO and AssetTrackr are both recognised as pioneers of breakthrough technologies and services that enable safer and more efficient commercial vehicles on India’s roads,” said Ashok Yerneni, founder and CEO of AssetTrackr.
“Both companies have established reputations for serving the industry’s leading players in their respective market sectors, and together we will take fleet management solutions to new heights.”
Subject to the fulfilment of regulatory conditions, the transaction is expected to close by Q4 2017.
WABCO has significantly grown its FMS business worldwide, and in February 2014 acquired Transics International, a market leader in Europe of fleet management solutions that today serves more than 1,400 transport and logistics companies in Europe, and connects approximately 115,000 vehicles.
Recently, the company also formed a joint venture with G7, a technology leader in China’s fleet logistic industry with a base of over 400,000 connected vehicles, with a view to further assert itself in the market for advanced fleet management solutions for trucks and trailers in China.