WABCO Holdings has said that it is expanding its global fleet management solutions (FMS) business to India by acquiring AssetTrackr, an innovative FMS provider based in Bangalore, India. WABCO signed an agreement to purchase 100 per cent of AssetTrackr’s shares. The transaction is now subject to customary conditions precedent and expected to close by the fourth quarter 2017.
“With the acquisition of AssetTrackr, we can leverage the superb combination of 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. Today less than two per cent of India’s commercial vehicles have telematics capabilities, presenting a huge opportunity that WABCO and AssetTrackr will be well placed to fulfill,’ said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
Founded in 2013, AssetTrackr is a start-up that helps commercial vehicle fleets track, analyse and optimise their transportation resources and assets in real time. AssetTrackr utilises advanced, cloud-based fleet management software and telematics hardware, which enables fleet operators to connect vehicles, drivers, and cargo and to monitor relevant data. AssetTrackr systems capture vehicle departure and arrival times, detect unauthorised stoppages or route deviations, optimise delivery routes, minimise delays, and monitor driving behavior.
Post acquisition, WABCO will combine its Vehicle Tracking System (VTS), a dedicated fleet management solution for India launched in September 2015, with AssetTrackr’s innovative portfolio. This will create products for India’s commercial vehicle OEMs and fleet operators based on the industry’s most comprehensive telematics capabilities.
“We are thrilled to join WABCO, a global leader in the commercial vehicle industry. WABCO and AssetTrackr are recognised as innovators and pioneers of breakthrough technologies and services that enable safer and more efficient commercial vehicles on India’s roads,” said Ashok Yerneni, AssetTrackr Founder and Chief Executive Officer.