TVS Motors invests 14% in the Altizon
The significant two-wheeler manufacturer in India, TVS Motor Company, revealed that it has recently made an investment by picking up a stake of 14.142% in Altizon Inc. Altizon is based in the US, and the main focus of the company is to provide services based on cutting-edge Internet of Things. With the assistance of subsidiary based in Singapore, TVS Motor brought the share with $25,00,000. On the other hand, TVS Motor has also acquired ten equity shares of the Indian branch of Altizon.
Altizon is typically an IIoT company which authorizes the predictable Industrial Revolution also known as Industry 4.0. The next phase of the Industrial Revolution will help the enterprises by utilizing the machine data for driving everyday business decisions. Altizon will also enable the digital transformation of the enterprises by simply accelerating the initiative needed in smart manufacturing, by rationalizing the asset management and lastly by curating new models for business to deliver services.
According to Magic Quadrant for the Internet of Things platform by Gartner, Altizon is one of the leaders in providing a platform based on Industrial Internet of Things. Altizon is located in Pune and Scotts Valley. The company reported that it had a turnover of $153,652 in the fiscal year of 2018.
TVS Motor has made an investment of Rs63,268 INR in the Indian branch of Altizon called, Altizon Systems Private Limited and the two-wheeler’s subsidiary invested around $25,00,000 in the US-based firm of Altizon.
The two-wheeler manufacturer also said that it believes in the prospect as well as the portfolio of Altizon. TVS Motors also said that Altizon has a definiteness to drive digital transformation with its revolutionary Industrial Internet of Things advancements.
**This post was published on https://www.financialexpress.com
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