Logistics is Back On The Top — ‘Verizon Acquired Fleetmatics’, ‘GE Acquired ShipExpress’, ‘MediaTek Investing in PayTM’
While August proved to be a month full of astounding achievements for LogiNext, 3 trending developments across the logistics and field service management ecosystem and mobile wallets are undeniably worth discerning. On one hand we saw two global player’s exiting the fleet and field service management tech arena and on the other hand Indian payment wallet maestro raised substantial amount of investment from a Taiwanese chipset giant, to augment their commerce and payment platforms.
These trends strongly portray, the vivid nature and prosperous future of Logistics, Fleet management and Field service management solutions. Technological innovations drive the zest of this industry, hence don’t be surprised if you see a bot delivering the courier in near future.
Nevertheless, Let’s take a quick dip to comprehend, the acquisitions and investments trends from around the logistics, fleet management, field service management and E-commerce domains.
Verizon Acquired Fleetmatics, a GPS Vehicle Tracking Solution Provider for $2.4 Billion in Cash
Fleetmatics Group PLC has been a global player in GPS vehicle tracking, empowering the logistics and supply chain managers with an enhanced fleet management solution. The logistics industry is majorly fragmented and disordered. Verizon Communications Inc, by this acquisition has keenly identified and seized the opportunity of successfully penetrating the global logistics and fleet management ecosystem.
“The companies share a vision that the SaaS-based fleet management solution market is extraordinarily large, lightly penetrated, global and fragmented which can best be attacked together with a world class product offering and the largest distribution channel in the industry.”- @JimTravers, the chairman and CEO of Feetmatics, stated providing more clarity on the common vision shared by both the firms.
Hoping to capture a huge market share, Andrés Irlando, CEO of Verizon Telematics, stated that, “The powerful combination of products and services, software platforms, robust customer bases, domain expertise and experience, and talented and passionate teams among Fleetmatics, the recently-acquired Telogis, and Verizon Telematics will position the combined companies to become a leading provider of fleet, field service and mobile workforce management solutions globally”.
GE Transportation Acquired ShipXpress, a Cloud Based Logistics and Supply Chain Solution Provider, for an Undisclosed Amount
When we hear the name GE, the first question that will strike our mind will be, is there any sector that they don’t operate in? Well, probably there is none. With their latest acquisition of ShipXpress, a prominent SaaS based logistics and supply chain management expert, GE transportation has strengthened their establishment and leadership, in the Logistics, field service and supply chain management solutions arena.
Jamie Miller, GE Transportation President and CEO prolifically stated, “By combining ShipXpress’ innovative software products with GE’s sensing technology and industrial-strength platform Predix, we’ll deliver the industry’s most advanced, scalable cloud-based solution to accelerate the movement of goods and information, and enhance supply chain performance and customer service.”
“We are thrilled to become part of GE Transportation’s Digital Solutions Team and transform the role of rail, truck and other modes of transport in global supply chain management,” said, Raghu Misra, Co-CEO and Co-Founder of ShipXpress, added his comments to further justify the acquisition.
“Mediatek” Invests $60 Milllion (400 Crores) in One97 communication which runs PayTM
The Taiwanese chipset giant “MediaTek” stunned many, with their announcement on investing a whopping $60 Million, in One97 communications, which runs PayTM. One97 confirmed on the investment by Mountain Capital, an investment arm of ‘MediaTek’. One97, further stated that, this giant leap will facilitate PayTM to enhance their current payments and commerce platforms, whilst developing their most talked about payments bank in India.
LogiNext, being an organisation backed by PayTM, see, it as a new milestone in our journey towards achieving excellence in the technology space, galvanizing the Indian logistics and field service management industry. “We can expect prodigious overhauls coming our way”- LogiNext.