GURUGRAM: Gurugram-based MSD Telematics has acquired 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.
Heuristics, founded in 2008 by Amit Dubey and Pradeep Rai offers Vehicle Tracking System and Mobile Application software. Following the acquisition Amit Dubey, Founder Partner Heuristics Info Systems, would be joining MSD Telematics as a board advisor.
Commenting on this buy, Ashmeet Singh, Founder of MSD Telematics said, “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.”
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”.