MSD Telematics acquires Heuristics Info Systems in an all-cash deal
It will help the Gurugram-based company service international clientele with innovative software solutions
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Last Updated: Jan 18, 2017, 15:57 IST1 min
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The privately-held MSD Telematics, a Gurugram-based telematics solutions firm, has acquired Heuristics Info Systems for an undisclosed amount.
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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.
“This investment will fuel our ability to deliver greater value to customers by enabling us to offer a complete bouquet of services,” said Ashmeet Singh, founder of MSD Telematics, in a statement. “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.”
Founded in 2011 by two friends, Ashmeet Singh and Siddharth, MSD Telematics focuses on telematics integration, GPS-based tracking/remote asset management and mobility solution. The company caters to various industrial verticals such as logistics, transportation, schools, public distribution system, among others. Its telematics solution is offered under the brand name traQmatiX.
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The deal was facilitated by Sparrow Business Solutions LLP, a boutique corporate finance firm that acted as exclusive advisors to MSD and Heuristics, and TRA Law that acted as the legal advisor.
First Published: Jan 18, 2017, 15:57
Subscribe NowBased in Delhi, I track developments both in corporate and economy sectors. In a career spanning since 2003, I track developments pertaining to M&A, PE/VC, startups and healthcare. Prior to joining Fo
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