Chennai: Two and three wheeler maker TVS Motor Company Ltd. on Tuesday said it has acquired Intellicar Telematics Private Limited and integrated Internet of Things (IoT) solution provider for Rs 15 crore cash.
In a regulatory filing, TVS Motor said the acquisition of Rs 16.10 crore turnover Bengaluru based Intellicar will help accelerate its ongoing digital initiatives targeted at delivering enhanced customer experience.
TVS Motor said the acquisition is expected to be completed by December 31, 2020.
Intellicar provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities.
The company provides a one stop integrated IoT solution with fleet tracking and predictive maintenance solutions to a wide range of vehicle types.