Varroc Engineering acquires majority stake in telematics firm CarIQ

Mergers and Acquisitions

Acquisition is expected to strengthen Varroc’s position as supplier of connected vehicle solutions

India-based Varroc Engineering has acquired 74% equity stake in home-grown telematic solutions provider CarIQ Technologies, the company said in a regulatory filing last week. CarIQ specialises in integrated connected vehicle solutions for automakers, fleet owners and insurance company. The company claims its platforms to have analyzed driving pattern of more than 90 million kilometers spread across over 50,000 drivers.

Thank you for visiting IHS Automotive AutoTechInsight.

*A subscription to News & Analysis includes four IHS Markit-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Services. Please click here to subscribe.

For a free daily listing of headlines with limited access please sign up here.

To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.

Already a subscriber? Please log in here

preload preload preload preload preload