WABCO Holdings to acquire Bengaluru-based AssetTrackr

NYSE-listed WABCO Holdings has decided to acquired Bengaluru-based fleet management solutions (FMS) provider AssetTrackr for an undisclosed sum.
 
WABCO is expanding its global FMS business to India by acquiring AssetTrackr, an innovative FMS provider based in Bangalore, India. WABCO signed an agreement to purchase 100% of AssetTrackr's shares. The transaction is now subject to customary conditions precedent and expected to close by the fourth quarter of 2017, a release said.
 
WABCO plans to combine AssetTrackr's operations with its existing Digital Services business, which manages WABCO's global portfolio of data-driven services and technologies, including its fleet management solutions. In addition, WABCO will leverage its supply chain, business support infrastructure, development capabilities, and expansive customer service network to accelerate AssetTrackr's growth in India and globally, the release added.
 
Founded in 2013, AssetTrackr is a start-up company 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 behaviour. By doing so they help improve the operational efficiency and safety of commercial vehicle fleets.
 
"With the acquisition of AssetTrackr, we can leverage the combination of WABCO's commercial vehicle systems expertise and safety and efficiency technologies with AssetTrackr's deep, local-market capabilities to serve customers in India. 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," WABCO chairman and chief executive officer Jacques Esculier said.
 
"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. Both companies have established reputations for serving the industry’s leading players in their respective market sectors. Together we will take fleet management solutions to new heights," AssetTrackr founder and chief executive officer Ashok Yerneni said.