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 turnovers Bengaluru based Intellicar will help accelerate its ongoing digital initiatives targeted at delivering enhanced customer experience.
Intellicar provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities. Intellicar Telematics was incorporated in February 2015, in 2019-20: Rs.16.10 crore, as compared to Rs 14.54 crore in 2018-19 in 2017-18 Rs 9.66 crore.
Intellicar provides advanced fleet management solutions through an integrated platform powered by IoT technologies coupled with strong analytics and data management capabilities. It will help accelerate the ongoing digital initiatives at TVS Motor Company Ltd that are targeted at delivering enhanced customer experience.
Tagbox Solutions Private Limited (24.3% stake) provides IoT-based solutions for sensing, monitoring and analysis across supply chain activities. Predictronics Corporation, US (23.5% stake) is an AI driven predictive maintenance analytics solutions provider.
Altizon Inc. (14.1% stake) specializes in industrial internet of things (IIoT) and addresses manufacturing industries. The idea is to integrate machine data with related information from other IT systems on the shop floor to build a manufacturing data lake. Analysis of this data would bring visibility and predictability into its manufacturing value chain and make the system cost efficient.
Scienaptics Systems Inc. (17% stake) uses AI-enabled platform ‘Ether’ to provide customer solutions. It helps the company improve risk and credit assessment and monitor evolving fraud patterns among other benefits.
Analysts said that TVS Motor has huge amount of data from its manufacturing capabilities and aftermarket is another part of their business. With the investment in startups, they now have access to IoT and machine learning which could help them rationalize and optimize the entire component supply chain and also offer innovative solutions to improve their manufacturing efficiency. Moreover, these technologies can be leveraged for the group companies as well.