Gurgaon-based telematics solutions firm MSD Telematics Pvt Ltd has acquired vehicle tracking solutions provider Heuristics Info Systems Pvt Ltd for an undisclosed amount in an all-cash deal.
The deal will help MSD Telematics deliver greater value to customers by offering a complete bouquet of services, Ashmeet Singh, founder of MSD Telematics, said in a statement.
He said the telematics industry will see rapid expansion in the years to come thanks to growth in transport technology and logistics technology.
As part of the deal, Amit Dubey, founder partner at Heuristics, will join MSD Telematics as a board adviser.
Heuristics was founded in 2008 by Dubey and Pradeep Rai. It offers a vehicle tracking system and mobile application software to various industry segments.
MSD was founded in 2011 by Singh and Siddharth, who goes by a single name. It focuses on telematics integration, GPS-based tracking and remote asset management, mobility solution and machine-to-machine solutions-based products. It offers services to various industry verticals including logistics, transportation and education.
MSD counts Hindustan Petroleum Corporation, state election commissions, state food corporations and excise departments as its clients.
"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," said Siddharth.