TVS Motor Company has acquired Bengaluru-based Intellicar Telematics for an estimated sum of Rs 15 crore.
The start-up provides an integrated Internet of Things (IoT) solution with fleet tracking and predictive maintenance solutions for a wide range of vehicle types. The all-cash deal will see TVS Motor acquiring 100 per cent in the five-year-old Intellicar.
Intellicar provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities.
It will help accelerate the ongoing digital initiatives at TVS Motor Company that are targeted at delivering enhanced customer experience.