TVS Motor Company, which is the third largest two-wheeler player in the Indian market, has acquired a 14 percent stake in US-based Altizon Inc, a global industrial IIoT platform company. While TVS has invested Rs 63,268 in Altizon Systems Pvt Ltd, its wholly owned subsidiary in Singapore has made an investment of US$ 2,500,000 (Rs 15.79 crore) in Altizon inc, USA.
Altizon, which is a leading Industrial IOT platform provider recognised by Gartner in its 'Magic Quadrant for IloT Platforms' has its operations in Pune, India and Scotts Valley, California, USA. The company empowers the industrial digital revolution globally by helping enterprises use machine data to drive business decisions. It enables digital transformation in enterprises by accelerating smart manufacturing initiatives, modernising asset management, and driving new business models for service delivery.
Altizon's proven and differentiated tech platform Datonis supports both greenfield and brownfield projects in a vendor-agnostic manner. The company caters to various industries including automotive, tyres, metals, energy, FMCG and chemicals.
While Altizon's India operation registered a revenue of Rs 1.88 crore in FY2018, Altizon Inc recorded a turnover of US$ $153,652 (Rs 97 lakh).
TVS Motor Co says with this investment, it "will partner Altizon in their exciting entity journey of growth and market leadership. TVS Motors will utilise the strong roster of global industrial majors who are customers of Altizon and will gain from enhanced technology offerings."
In December 2018, leading India tyre manufacturer JK Tyre and Industries said it is using Altizon’s Datonis Manufacturing Intelligence platform to drive the company’s enterprise digital transformation.