Comments
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 would be joining MSD Telematics as a board advisor.
"This investment will fuel our ability to deliver greater value to customers by enabling us to offer complete bouquet of services. We are excited to have the Heuristics team join us in this exciting journey. Together we look forward to grow multi-fold in the next few years. Heuristics gives us the ability to now service international clientele with innovative and robust software solutions," said Ashmeet Singh, founder at MSD Telematics.
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”.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.