Fabric IOT completed the acquisition of Intellicar Telematics from TVS Motor for $8m.

Fabric IOT, an IoT solutions provider, completed the acquisition of Intellicar Telematics, a provider of integrated IoT solutions, from TVS Motor, an automobile company, for $8m. “This divestment is part of the ongoing value creation initiatives related to our digital portfolio. Working together with the Founders of each startup, we are laser-focused on supporting them to execute their Value Creation Plan (VCP) and then unlocking the value created at the most appropriate time,” Rajesh Narasimhan, TVS Director and CEO.