MSD Telematics Private Limited, a Gurugram based telematics solutions firm, announced the acquisition of Heuristics Info Systems in an all cash deal. Sparrow Business Solutions LLP, a boutique corporate finance firm acted as the exclusive advisors to MSD and Heuristics on the transaction and TRA Law acted as the legal advisor on the deal.
Ashmeet Singh, founder of MSD Telematics commented
This investment will fuel our ability to deliver greater value to customers by enabling us to offer complete bouquet of services. We are excited to have the Heuristics team join us in this exciting journey. Together we look forward to grow multi-fold in the next few years. Heuristics gives us the ability to now service international clientele with innovative and robust software solutions.
With the tremendous growth in Transport Tech and Logistics Tech space, telematics as an industry will see fabulous growth in the years to come.
Siddharth, investor at MSD Telematics said
It is time we function as business intelligence partners for the customers, helping them drive operational efficiency while reducing costs and risk. Telematics companies need to create unique positioning products that help customers grow their business. We need to educate customers about numerous applications of telematics and collaborate towards increasing penetration in the domain for a sustainable growth and benefit of all the stakeholders.
Heuristics, founded in 2008 by Amit Dubey and Pradeep Rai offers Vehicle Tracking System and Mobile Application software while providing unique cost effective quality solutions to various industry segments. Following the acquisition Amit Dubey, Founder Partner Heuristics Info Systems, would be joining MSD Telematics as a board advisor.
Commenting on the deal, Rohit Bhargava, partner at Sparrow Business Solutions LLP said
This is probably the start of consolidation in the industry. Few large players will emerge in the next few years to take leadership positions in the USD 120 Million telematics market in India.
About MSD Telematics
MSD was founded by two friends Ashmeet Singh and Siddharth in 2011. MSD focuses on telematics integration, GPS based tracking/remote asset management, mobility solution and all M2M solution based products. Company caters to various industrial verticals like logistics, transportation, schools, public distribution system etc. Telematics solution is offered under the brand name traQmatiX.
MSD serves corporate and government corporations by offering customized solutions on OPEX basis and on a turn-key basis. MSD counts HPCL, State Election Commissions, State Food Corporations and Excise Departments as some of its clients.
About Sparrow Business Solutions LLP
Gurugram, Delhi NCR, India based Sparrow Advisory was set up in late 2014. Sparrow Advisory serves clients in Thailand, Indonesia, Malaysia, Singapore and Sri Lanka across sectors including Auto Components, Water Treatment, Renewables, Consumer Goods, Vacation Rentals, Fitness Industry and Data Analytics.