TVS Motor Company, has acquired Intellicar Telematics, an IoT solutions company. The deal is valued at about Rs. 15 Cr., and is expected to complete by 31st December 2020. The deal is expected to help TVS accelerate it’s ongoing digital initiatives that are targeted at delivering enhanced customer experience.
Intellicar was setup in 2015, and provides a on stop integrated IoT solution with fleet tracking, predictive maintenance and remote access solutions applicable to a range of vehicles. In FY 1920, the company clocked a turnover of Rs. 16.10 Cr.
Earlier, in 2019, TVS Motor had acquired a minority stake in US-based industrial Internet of Things (IoT) firm Altizon Inc and Altizon Systems Pvt Ltd, with an investment of over $2.5 million. TVS had also invested $3.85 Million in Bengaluru based-TagBox, a supply chain industrial internet of things (IIoT) and machine learning platform company as part of its Series A funding round.
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