Minda to purchase KPIT’s business related to telematics hardware products consisting of VTS AIS 140, On Bus Integrated Telematics Systems complying to UBS-II specs, and telematics products for school buses.
Minda Industries has entered into a definitive agreement with KPIT Engineering to purchase its business related to telematics hardware products consisting of VTS AIS 140, OBITS (On Bus Integrated Telematics Systems complying to UBS-II specifications), and telematics products for school buses. The agreement is subject to customary closing conditions and approvals. MIL will be a preferred supplier to KPIT for other telematics hardware products.
Commenting on the pact, N K Minda, chairman and MD, Minda Industries said: "With AIS 140 notification being released by the Government this year and its implementation with effect from January 2019, we believe that this segment will offer opportunity for growth and expansion. In addition to this, KPIT is among the pioneers in the telematics space in India and this collaboration would give access to new customers and technology."
Kishor Patil, CEO of KPIT, said: "This collaboration is in line with our re-defined strategy to focus on software development and integration for mobility. Minda's proven manufacturing capability will impart scale and benefit our customers and employees."
Minda Industries is the flagship company of the UNO Minda Group, which is a leading supplier of proprietary automotive solutions to OEMs as Tier 1. The Group is a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, Morocco, Germany and Colombia as well as design offices in Taiwan, Japan and Spain. It has 58 manufacturing plants globally and has JVs/Technical Agreements with world renowned manufacturers from Japan, Italy, Taiwan and India.
KPIT, which specialises in embedded software, Al and digital solutions for the automotive and mobility industry, partners with customers to accelerate implementation of next generation technologies. It has technology centers in Europe, USA, Japan, China and India.
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