eTrans Solutions acquires Ranet4u, aims Rs. 100 Cr turnover in 3 years
eTrans Solutions Pvt Ltd, a Kolkata-based e-logistics, fleet management solutions company, recently completed the acquisition of Bengaluru based Telematics and IoT company Ranet4u – a subsidiary of Rane Holdings.
As per the acquisition agreement, Rane Holdings. has been allotted 8,62,505 (Eight lakhs sixty two thousand five hundred and five) Equity Shares having face value of Rs.10/- each, in exchange for sale of the entire investment held in Rane t4u to eTrans Solutions Private Limited. With this acquisition, Rane t4u becomes a part of eTrans and is henceforth named eTrans t4u.
Commenting on the acquisition, Shoummo Acharya, Founder & Chairman, eTrans Solutions said, “This acquisition brings about a great strategic fit, in terms of product and solutions synergy, and complementary core competencies. Already a pioneer in vehicle tracking and GPS solutions since last two decades, eTrans is now stronger than ever to deliver greater value with its expanded product and solutions repertoire with wider geographical reach.”
He adds, “The combined strength of eTrans and eTrans t4u would truly enhance the length and breath of our reach and make us a full service technology solutions organization with improved efficiency, value added services catering to a diverse and wider segments pan India and globally.”
Speaking about the company’s future plans, Mr. Acharya mentioned, “eTrans posted Rs. 20.7 crores as revenue from operations during the year 2022-23, a 25% growth over the previous year. The combined base of both eTrans and eTrans t4u is now Rs. 28 crores. Our target for 2023-2024 is achieving Rs. 40 crores top line and in 3 years horizon I am optimistic of achieving an organic turnover of Rs 100 crores.”
He also added, “As part of our future plans, eTrans plans to focus on several initiatives such as enhancing real-time tracking capabilities, improving overall operational efficiency, investing in more cutting edge IoT/Technology, attuning talent and capabilities. In other words with the combined technology, capabilities and talents of eTrans and eTrans t4u, we shall be putting out all the stops to better serve our customers and emerge a leader in the space in which we operate.”
