WABCO Expands Fleet Management Business with Acquisition in India

WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies and services designed to enhance connectivity of commercial vehicles, has announced that it is expanding its global fleet management solutions (FMS) business to India by acquiring AssetTrackr, an FMS provider based in Bangalore, India.

WABCO signed an agreement to purchase 100% of AssetTrackr’s shares with the transaction to customary conditions. The deal is expected to close prior to the end of the year.

Founded in 2013, AssetTrackr is a 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.

Here’s where it gets really interesting: WABCO’s FMS solutions are further enhanced through the wealth of 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.

Now, WABCO will link AssetTrackr’s local market and systems skill set with its own telematics solutions.

“Today less than 2% of India’s commercial vehicles have telematics capabilities, presenting a huge opportunity that WABCO and AssetTrackr will be well placed to fulfill,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer. “The integration of comprehensive real-time data gathered from WABCO’s advanced onboard systems with AssetTrackr’s innovative asset tracking, analytics and optimization services will help fleet operators to drive operational efficiency and vehicle safety in India and in other rapidly developing markets worldwide.”

The acquisition represents the next stage in WABCO’s growth plans. In February 2014, the company acquired Transics International, a market leader in Europe of fleet management solutions. Transics provides fleet management solutions that help commercial vehicle fleet operators manage their trucks, trailers, cargo, orders and drivers in real-time. Transics currently serves more than 1,400 road transport and logistics companies across Europe, connecting approximately 115,000 vehicles.

Recently, WABCO also announced an agreement to form a joint venture with G7, a technology leader in China’s fleet logistic industry with a base of over 400,000 connected vehicles. This move consolidates a plan to develop and sell advanced fleet management solutions for trucks and trailers in China.

Category: Connected Fleet News