Sumeru Acquires Majority Stake in Azuga

Azuga, a leading global provider of connected vehicle and fleet technologies, announced that Sumeru Equity Partners (SEP) acquired a majority stake in the company.

SEP made a significant strategic investment in the hopes of accelerating growth and product innovation. SEP acquired the company in partnership with existing shareholders Ananth Rani—CEO, board member and founder of Azuga—and Danlaw, Inc., both of whom will continue to retain significant equity interests in Azuga.

Founded in 2012, Azuga provides connected vehicle, fleet and telematics software and solutions for commercial fleets, government agencies, insurance companies and automotive industry suppliers with its breakthrough platforms deployed to approximately 3,000 customers.

Azuga has provided the industry with a platform that is designed to enable customers to turn data about vehicle usage and driver behavior into intelligence that improves operations and safety while also reducing costs and risk for fleet operators.

As a part of the investment, SEP principals Paul Mercadante, Sanjeet Mitra and Mark Haller will join the Azuga board of directors. “The fleet management and telematics technology market is undergoing a significant transition as the shift from asset tracking solutions to complex, sophisticated platforms allows fleet operators to use real-time data to influence safety, operations and performance,” said Mercadante and Haller. “From its founding, Azuga has differentiated itself by taking on a customer-first mentality and building a modern platform with extensive functionality that mutually benefits fleet operators and vehicle drivers alike. We are excited to partner with Ananth, the Azuga team and Danlaw to support the growth plans of the company.”

Danlaw—based in Michigan—is a leading supplier to car manufacturers and insurance companies through its automotive-grade products and has built a business with more than 800 employees and successful operations over the past 34 years. Founder, chairman of Danlaw and Azuga board director Raju S. Dandu said, “Danlaw and Azuga have had a fantastic relationship in the past several years. We believe that the market leadership position and momentum created through our investments and leading-edge device collaboration with Azuga will promote a lasting impact to its customers.”

Category: Connected Fleet News, General Update, News