WABCO signs agreement to acquire AssetTrackr in India

New Delhi [India], Aug 8 (ANI): WABCO Holdings, a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles has announced that it is expanding its global fleet management solutions (FMS) business to India by acquiring AssetTrackr, an innovative FMS provider based in Bangalore, India. WABCO signed an agreement to purchase 100 percent of AssetTrackr's shares. The transaction is now subject to customary conditions precedent and expected to close by the fourth quarter 2017. Founded in 2013, AssetTrackr is a dynamic start-up company that helps commercial vehicle fleets track, analyze and optimize their transportation resources and assets in real time. AssetTrackr utilizes advanced, cloud-based fleet management software and telematics hardware, which enables fleet operators to connect vehicles, drivers, and cargo and to monitor relevant data. AssetTrackr systems capture vehicle departure and arrival times, detect unauthorized stoppages or route deviations, optimize delivery routes, minimize delays, and monitor driving behavior. By doing so they help improve the operational efficiency and safety of commercial vehicle fleets. WABCO's FMS solutions are further enhanced through the rich data stream coming from WABCO's 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 will link AssetTrackr's local market and systems expertise with its own leading telematics solutions. Blending together complementary systems and domain expertise from both companies, WABCO will combine its Vehicle Tracking System (VTS), a dedicated fleet management solution for India launched in September 2015, with AssetTrackr's innovative portfolio. This will create products for India's commercial vehicle OEMs and fleet operators based on the industry's most comprehensive telematics capabilities. WABCO, thereby, will continue to leverage this rich pool of entrepreneurial talent, digital expertise and local development capability to advance the growth of its fleet management solutions business in India and across other markets worldwide. "WABCO is committed to making its market leading fleet management solutions available to commercial vehicle operators globally. 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," said WABCO chairman and chief executive officer, Jacques Esculier. "With the acquisition of AssetTrackr, WABCO will build on its 55-year history in India, serving all leading OEMs and adding further capability to empower fleets through increasing digitalization of vehicles. WABCO's ambition is to offer unrivalled solutions that advance the safety, efficiency and connectivity of commercial vehicles in India. Advanced fleet management solutions are rapidly becoming an integral part of fleets' business strategies as they seek to leverage the full benefits of the Internet of Things within the transportation industry," said vice president WABCO INDIA, P. Kaniappan. "We are thrilled to join WABCO, a global leader in the commercial vehicle industry. WABCO and AssetTrackr are recognized as innovators and pioneers of breakthrough technologies and services that enable safer and more efficient commercial vehicles on India's roads," said AssetTrackr founder and chief executive officer, Ashok Yerneni. (ANI)