eTRANS expands reach with RANET4U acquisition
eTrans Solutions, a leading e-logistics and fleet management company, has acquired Bengaluru-based Telematics and IoT company, Ranet4u, previously a subsidiary of Rane Holdings. Ranet4u is now a part of eTrans and is renamed eTrans t4u.
“The combined strength of eTrans and eTrans t4u will significantly enhance our reach, providing a comprehensive technology solutions portfolio with improved efficiency, and value-added services catering to diverse and wider segments across India and globally,” says Shoummo Acharya, Founder & Chairman, eTrans Solutions.
“This acquisition brings about a great strategic fit in terms of product and solutions synergy, and complementary core competencies. eTrans, a pioneer in vehicle tracking and GPS solutions since the last two decades, is now better equipped to deliver greater value with its expanded product and solutions repertoire and a wider geographical reach,” he adds.
The combined portfolio will provide a comprehensive customer-centric solution across e-logistics and transportation. eTrans will enhance its real-time tracking capabilities, improve overall operational efficiency, invest in more cutting-edge technologies, and is also poised to expand its presence in global markets.
eTrans posted a revenue of Rs 20.7 crore in FY 2022-23, a 25% growth over the previous year. The combined revenue of both eTrans and eTrans t4u now stands at Rs 28 crore. “Our target for FY 2023-2024 is to achieve a top line revenue of Rs 40 crore and we are optimistic about achieving an organic turnover of Rs 100 crore within a 3-year horizon,” reveals Acharya.
eTrans, which was set up in 2000, has mainly concentrated on Eastern India, where it follows a robust business model. Plans are afoot to gradually expand to other parts of India. Says Acharya, “Our home-grown company’s vision to create a strong presence beyond our state or country’s boundaries has never wavered, but, unfortunately, the challenges brought about by the pandemic took a toll on the business landscape, and we had to put our expansion plans on hold for a while. Now, after exploring various options, we finally decided to acquire Ranet4u as part of our company’s growth plans. The new company, along with its product and solutions synergy, comes with a host of quality customers in India and a presence in global markets.”
Customers include reputed companies like Tata Steel, Jindal, TML, CESC, etc. Says Acharya, “We enjoy an enduring partnership with our clients who have reposed a lot of trust in us. Over the years we have become the ‘go-to-provider’ in the steel, aluminium, mining, public utility, and gases sectors, as well as among associated logistics and transportation companies.”
“The combined strength of eTrans and eTrans t4u will significantly enhance our reach, providing a comprehensive technology solutions portfolio with improved efficiency, and value-added services catering to diverse and wider segments across India and globally,” says Shoummo Acharya, Founder & Chairman, eTrans Solutions.
“This acquisition brings about a great strategic fit in terms of product and solutions synergy, and complementary core competencies. eTrans, a pioneer in vehicle tracking and GPS solutions since the last two decades, is now better equipped to deliver greater value with its expanded product and solutions repertoire and a wider geographical reach,” he adds.
The combined portfolio will provide a comprehensive customer-centric solution across e-logistics and transportation. eTrans will enhance its real-time tracking capabilities, improve overall operational efficiency, invest in more cutting-edge technologies, and is also poised to expand its presence in global markets.
eTrans posted a revenue of Rs 20.7 crore in FY 2022-23, a 25% growth over the previous year. The combined revenue of both eTrans and eTrans t4u now stands at Rs 28 crore. “Our target for FY 2023-2024 is to achieve a top line revenue of Rs 40 crore and we are optimistic about achieving an organic turnover of Rs 100 crore within a 3-year horizon,” reveals Acharya.
eTrans, which was set up in 2000, has mainly concentrated on Eastern India, where it follows a robust business model. Plans are afoot to gradually expand to other parts of India. Says Acharya, “Our home-grown company’s vision to create a strong presence beyond our state or country’s boundaries has never wavered, but, unfortunately, the challenges brought about by the pandemic took a toll on the business landscape, and we had to put our expansion plans on hold for a while. Now, after exploring various options, we finally decided to acquire Ranet4u as part of our company’s growth plans. The new company, along with its product and solutions synergy, comes with a host of quality customers in India and a presence in global markets.”
Customers include reputed companies like Tata Steel, Jindal, TML, CESC, etc. Says Acharya, “We enjoy an enduring partnership with our clients who have reposed a lot of trust in us. Over the years we have become the ‘go-to-provider’ in the steel, aluminium, mining, public utility, and gases sectors, as well as among associated logistics and transportation companies.”
LIFTING & SPECIALIZED TRANSPORT, SEPTEMBER u2013 OCTOBER 2023