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MSD Telematics, a Delhi-based telematics solutions firm, has acquired Heuristics Info Systems for an undisclosed sum.
Heuristics, founded in 2008 by Amit Dubey and Pradeep Rai, offers vehicle tracking system and mobile application software. Following the acquisition, Amit Dubey will be joining MSD Telematics as a board advisor.
Sparrow Business Solutions, a boutique corporate finance firm was the advisor to MSD and Heuristics on the transaction.
Rohit Bhargava, partner at Sparrow Business Solutions said: “This is probably the start of consolidation in the industry. Few large players will emerge in the next few years to take leadership positions in the $120-million telematics market in India”.
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