KOLKATA, India, Sept. 18, 2023 /PRNewswire/ — eTrans Solutions Pvt Ltd a 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 equity shares having face value of Rs.10/- each. In exchange for the sale of the entire investment held in Ranet4u to eTrans Solutions Private Limited, this is. With this acquisition, Ranet4u becomes a part of eTrans and is henceforth named eTranst4u.
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. It also involves complementary core competencies. Already a pioneer in vehicle tracking and GPS solutions since the last two decades. The eTrans is now stronger than ever, delivering greater value with its expanded product and solutions repertoire. It also has a wider geographical reach. We have in place a great team of over 400 people spread across India, with a customer-first approach. They go the extra mile to ensure seamless and superior service to both existing eTrans and eTranst4u customers. The combined portfolio will not only provide comprehensive customer-centric solutions across the e-logistics and transportation solutions landscape. We are also 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 its time. In other words, we faced the inherent first-mover disadvantages. So, we decided that it would be more prudent to focus initially on Eastern India, create a robust business model, and then slowly spread our footprint. Customers like Tata Steel, Jindal, TML, and CESC have maintained enduring partnerships with us. They place their trust in our services, and over the years, we’ve become their preferred choice.
He added “We excel in serving various sectors, including steel, aluminium, mining, public utilities, gas, as well as logistics and 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, we finally chose t4u. The company possesses synergy in solutions, as mentioned earlier. It also comes with a host of quality customers in India and has a global presence.”
“The combined strength of eTrans and eTranst4u would truly enhance the length and breadth of our reach. It would make us a full-service technology solutions organization with improved efficiency and value-added services. This would cater to 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 eTranst4u is now Rs 28 Crs. Our target for 2023-2024 is achieving Rs 40 Crs top line, and 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. These initiatives include enhancing real-time tracking capabilities, improving overall operational efficiency, investing in more cutting-edge IoT/Technology. Additionally, eTrans aims to attune talent and capabilities to support these efforts. In other words, with the combined technology, capabilities, and talents of eTrans and eTranst4u, we shall be pulling out all the stops. Our goal is to better serve our customers. We aim to emerge as a leader in the space in which we operate.”