Looks to expand into fast-growing connected mobility market in India and abroad across vehicle segments, to develop cutting-edge Internet of Things solutions for automotive.
04 Sep 2017 | 7411 Views | By Autocar Pro News Desk
Global automotive component manufacturer Spark Minda, Ashok Minda Group has acquired EI Labs, which delivers inter-disciplinary products in the connected mobility and IoT space. Minda Corporation, the flagship company of Spark Minda, Ashok Minda Group, through its wholly owned subsidiary Minda SAI has acquired 100% of the equity shares of ...
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Global automotive component manufacturer Spark Minda, Ashok Minda Group has acquired EI Labs, which delivers inter-disciplinary products in the connected mobility and IoT space. Minda Corporation, the flagship company of Spark Minda, Ashok Minda Group, through its wholly owned subsidiary Minda SAI has acquired 100% of the equity shares of EI Labs.
The Bangalore-based EI Labs was founded by professionals with extensive global experience in the high-tech IT industry and excellence in embedded, intelligent technology. Some of its highlights include building the connectivity for India’s first connected car embedded solution; its in-house R&D has put three car platforms and one tractor platform on the cloud; developed a middle ware for a tractor gateway platform with rugged all- weather devices as OEM fitment; and GPS-enabled announcements for bus passengers – first step towards ITS solution for Smart Cities.
Commenting on the new acquisition, Ashok Minda, chairman and Group CEO, Spark Minda, Ashok Minda Group said, “We are happy to announce the acquisition of EI Labs in the area of connected mobility. The acquisition will enable Spark Minda to develop latest devices and solutions, helping the automotive market with world-class technologies in the domain of automotive connected mobility management devices and solutions.”
N K Taneja, Group chief marketing officer, Spark Minda, Ashok Minda Group, added, “Our Group has been constantly endeavouring and creating opportunities for further growth and developments since inception. The EI Labs acquisition marks an important milestone for our group in the field of futuristic
Suresh D, Group chief technology officer, Spark Minda, Ashok Minda Group, said: “With this acquisition, Spark Minda will be bringing a full spectrum of solutions to reinforce developments in next-generation connected mobility and IoT domain. We plan to integrate the acquired technology in our existing range of products to give the much required value add and competitive edge to our customers.”
The Spark Minda, Ashok Minda Group is one of the leading manufacturers of automotive components for OEMs. The US $550 million Group, with a workforce of more than 16,000, caters to leading two-wheeler, four-wheeler, commercial vehicles, tractors and off-road vehicle manufacturers in India and also has a presence in Germany, Poland, Czech Republic, Mexico, China, Indonesia, Vietnam, Uzbekistan and Japan.