Gurugram based companies MSD Telematics Pt Ltd and Heuristics Info Systems concluded M&A deal where Sparrow Advisory acted as exclusive advisor, and TRA law acted as legal advisor in an all cash deal. Following the acquisition the founder of Heuristics info system,will join MSD Telematics as their board member.
About the Companies:
MSD Telematics Pvt Ltd was founded in 2011 by two friends Ashmeet Singh and Sidhartha. The company offers customized solutions for both corporate and government based on OPEX basis and a key turn basis. They work on telematic integration, GPS based tracking/remote assessment managements and mobility solutions. They provide solutions for various industries, transportation, schools, public distributions etc. The telematics solutions offer their services under the name of TRAQMATIX and claims HPCL, State Election Commissions, State Food Corporation and Excise Department as their clients.
Heuristics Info Systems was founded in 2008 by Amit Dubey and Pradeep Rai. They offer a cost effecting and quality solutions for vehicle tracking systems and mobile application software.
Sparrow Business Solutions LLP is a Gurugram, Delhi based company founded in 2014 by Rohit Bhargava. The company services clients on M&A (mergers and acquisitions) deals, setting up JV’s, capital raising designing market and other corporate finance advises.
CEO of MSD Telematics Mr.Singh 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 Heuristics team to join us in this exciting journey. Heuristics gives us the ability to service international clients with innovative and robust software solutions.”
Commenting on the deal Mr.Rohit concluded “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”.