WABCO Holdings Inc. announced that it is expanding its global fleet management solutions (FMS) business to India by acquiring AssetTrackr, an 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 2017. No financial details were provided.
Founded in 2013, AssetTrackr is a start-up company that helps commercial vehicle fleets track, analyze and optimize their transportation resources and assets in real time. AssetTrackr utilizes cloud-based fleet management software and telematics hardware, which enables fleet operators to connect vehicles, drivers and cargo and to monitor relevant data.
WABCO’s said its FMS solutions are further enhanced through the data stream coming from its own onboard vehicle control systems for trucks, buses, trailers and off-highway vehicles, which include advanced braking, stability control, door-lock, and tire monitoring technologies. WABCO said will link AssetTrackr’s local market and systems expertise with its own telematics solutions.
“WABCO is committed to making its market leading fleet management solutions available to commercial vehicle operators globally,” said Jacques Esculier, WABCO chairman and chief executive officer. “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 fulfill.
WABCO said it 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.