Telenav, a provider of connected-car and location-based services, has entered into a strategic partnership and transaction with Grab, an app in Southeast Asia, providing everyday services.
Telenav will boost the latter’s development of geo-based products and services using its OpenTerra platform which is an auto-grade location-based content-as-a-service platform that leverages the power of real-time crowdsourced data and AI technologies. It automatically aggregates and validates data to produce auto-grade maps, ADAS maps and RoadSense™ data.
Grab plans to use this platform to process data from its fleet of vehicles to enhance its location-based services. This is the first major deal for Telenav in which it will provide its platform to an outside company.
As part of the agreement, Grab will purchase the technology underlying the platform with plans for certain members of the OpenTerra team to join Grab. Telenav will be able to continue developing the platform going forward through a license back to the platform, with the ability to provide and sub license the platform to current and future customers.
Closing of this transaction is subject to customary conditions and is expected to occur before end of Telenav’s fiscal year 2020.
Source: Press Release