eTrans Solutions Pvt Ltd, a leading e-logistics, fleet management solutions company, recently completed the acquisition of Bengaluru based Telematics and IOT Company Ranet4u – a subsidiary of Rane Holdings.
As per the acquisition agreement, Rane Holdings. has been allotted 8,62,505 (Eight lakhs sixty two thousand five hundred and five) Equity Shares having face value of Rs.10/- each, in exchange for sale of the entire investment held in Rane t4u to eTrans Solutions Private Limited. With this acquisition, Rane t4u becomes a part of eTrans and is henceforth named eTrans t4u.
Speaking to the media, Mr. Shoummo Acharya, Founder & Chairman, eTrans Solutions said, “This acquisition brings about a great strategic fit, in terms of product and solutions synergy, and complementary core competencies. Already a pioneer in vehicle tracking and GPS solutions since last two decades, eTrans is now stronger than ever to deliver greater value with its expanded product and solutions repertoire with wider geographical reach. We have in place a great team of over 400 people spread across India, with a customer-first approach, going the extra mile to ensure seamless and superior service to both the existing eTrans and eTranst4u customers. The combined portfolio will not only provide a comprehensive customer centric solutions across the e logistics and transportation solutions landscape, we are fully poised to expand our presence globally, to a wider customer base.”
Mr. Acharya further added, “After its inception in 2000, while aiming for a pan India footprint, we realized that logistics sector found the concept new and ahead of time, in other words, we faced the inherent first-mover disadvantages, So we decided that it would be more prudent to focus initially in the Eastern India and create a robust business model, and then slowly spread our footprint. Customers such as Tata Steel, Jindal, TML, CESC with whom we enjoy an enduring partnership, repose their trust in us, and over the years we became the ‘go- to-provider’ in the steel, aluminium, mining, public utility and gases sectors and associated logistics & transportation companies. However, this home-grown Company’s vision to create a stronger presence beyond the state or country’s boundaries never wavered, but with the pandemic challenges taking its toll on the business landscape, we had to pause this vision for a while. After exploring multiple options, wefinally chose t4u.The Company, besides possessing synergy in solutions as mentioned earlier, comes with a host of quality customers, in India as well has a global presence.”
“The combined strength of eTrans and eTrans t4u would truly enhance the length and breath of our reach and make us a full service technology solutions organization with improved efficiency, value added services catering to a diverse and wider segments pan India and globally.” Mr. Acharya emphasized.
Speaking about the Company’s future plans, Mr. Acharya mentioned, “eTrans posted Rs 20.7 Crs as revenue from operations during the year 2022-23, a 25% percent growth over the previous year. The combined base of both eTrans and eTrans t4u is now Rs 28 Crs. Our target for 2023-2024 is achieving Rs 40 Crs top lineand in 3 years horizon I am optimistic of achieving an organic turnover of Rs 100 Crs.” He also added, “As part of our future plans, eTrans plans to focus on several initiatives such as enhancing real-time tracking capabilities, improving overall operational efficiency, investing in more cutting edge IoT/Technology, attuning talent and capabilities. In other words with the combined technology, capabilities and talents of eTrans and eTrans t4u, we shall be putting out all the stops to better serve our customers and emerge a leader in the space in which we operate.”