International component specialist, WABCO, recently announced 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 of 2017.
Founded in 2013, AssetTrackr is a dynamic start-up company that helps commercial vehicle fleets track, analyse and optimise 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.
WABCO will combine its Vehicle Tracking System (VTS), a dedicated fleet management solution, 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, according to WABCO Chairman and CEO, Jacques Esculier.
“WABCO is committed to making its market-leading fleet management solutions available to commercial vehicle operators globally,” said Esculier.
“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 2 per cent 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 comprehensive real-time data gathered from WABCO's advanced onboard systems with AssetTrackr’s innovative 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 confirmed the development of a new €25 million facility in Germany earlier this year.
Photo (L-R): Ashok Yerneni, Founder and CEO at AssetTrackr and Jacques Esculier, Chairman and CEO at WABCO, following the signing ceremony in Brussels, Belgium.