Home IoT eTrans Options acquires Ranet4U | IoT Now Information & Stories

eTrans Options acquires Ranet4U | IoT Now Information & Stories

eTrans Options acquires Ranet4U | IoT Now Information & Stories

eTrans Options Pvt Ltd has accomplished acquisition of Bengaluru-based telematics and IoT firm Ranet4ua subsidiary of Rane Holdings. As per the acquisition settlement, Rane Holdings has been allotted 8,62,505 (Eight lakhs sixty two thousand 5 hundred and 5) fairness shares having face worth of Rs.10/- every, in trade for the sale of total funding held in Ranet4u to eTrans Options Personal Restricted. With this acquisition, Ranet4u turns into part of eTrans and is henceforth named eTranst4u.

Shoummo Acharya, founder and chairman, eTrans Options says, “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 the last two decades, eTrans is now stronger than ever to deliver greater value with its expanded product and solutions repertoire and 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 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.”

Acharya additional provides, “After its inception in 2000, while aiming for a pan-India footprint, we realised 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 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 gas sectors and associated 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, besides possessing synergy in solutions, as mentioned earlier, comes with a host of quality customers in India and has a global presence as well.”

“The combined strength of eTrans and eTranst4u would truly enhance the length and breath of our reach and make us a full service technology solutions organisation with improved efficiency, value-added services catering to diverse and wider segments pan India and globally,” Acharya emphasised.

Talking in regards to the firm’s future plans, Acharya talked about, “eTrans posted Rs 20.7 Crs as revenue from operations during the year 2022-23, a 25% 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 additionally provides, “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, and attuning talent and capabilities. In other words, with the combined technology, capabilities and talents of eTrans and eTranst4u, we shall be pulling out all the stops to better serve our customers and emerge a leader in the space in which we operate.”

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Writer: Shriya Raban
Date: 2023-09-21 10:27:29

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