WABCO Holdings today announced that it is expanding its global fleet management solutions (FMS) business to India by acquiring AssetTrackr, an FMS provider based in Bangalore. WABCO signed an agreement to purchase 100 % of AssetTrackr’s shares. The transaction will be subject to customary conditions precedent and expected to close by the fourth quarter 2017.
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 industry-leading fleet management solutions. In addition, WABCO will leverage its world-class supply chain, business support infrastructure, development capabilities, and expansive customer service network to accelerate AssetTrackr’s growth in India and globally.
Currently, WABCO’s FMS solutions are enhanced through the data stream coming from the company’s on board vehicle control systems for trucks, buses, trailers, and off-highway vehicles, which include advanced braking, stability control, door-lock, and tire monitoring technologies. After the acquisition, WABCO will link AssetTrackr’s local market and systems expertise with its own leading telematics solutions.
Combining the complementary systems and domain expertise of both companies, WABCO will combine its vehicle tracking system (VTS) fleet management solution with AssetTrackr’s portfolio. This will create products for India’s commercial vehicle OEMs and fleet operators based on the industry’s telematics capabilities. WABCO will continue to leverage the entrepreneurial talent, digital expertise and local development capability to advance the growth of its fleet management solutions business in India and across other markets worldwide.
“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 % of India’s commercial vehicles have telematics capabilities, presenting a huge opportunity that WABCO and AssetTrackr will be well placed to fulfil, “said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
“The integration of comprehensive real-time data gathered from WABCO’s advanced on board 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, added Esculier.
Commenting on the development, P Kaniappan, Vice President, WABCO India, said, “With the acquisition of AssetTrackr, WABCO will build on its 55-year history in India, serving all leading OEMs and adding further capability to empower fleets through increasing digitalisation of vehicles. Advanced fleet management solutions are rapidly becoming an integral part of fleets’ business strategies as they seek to leverage the full benefits of the Internet of Things within the transportation industry.”
“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. “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.”