Varroc Engineering acquires majority stake in telematics firm CarIQ
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.