TVS Motor (Singapore) Pte. Limited, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest US$ 3.2 million in Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, which specialises in providing end-to-end predictive maintenance analytics solutions.
Predictronics' solutions combine expertise in IIoT, Industrial AI, Big Data, Machine Learning, and Predictive Analytics to remove the uncertainty from industrial operations and improve process uptime, production planning, maintenance, and product quality by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business. Their claim to fame is that "We know what happens next, and so can you".
Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore), stated that "We evaluated many companies globally providing Predictive Maintenance solutions and found Predictronics' product offerings and solutions to be a clear differentiator. Their PDX platform collects and analyses big data with a goal of reducing unplanned down time, increasing productivity and improving product quality. We are hence happy to invest in and strategically partner with Predictronics as they continue to deliver business improvements for Fortune 500 companies while leveraging them for our businesses."
Edzel Lapira, Co-Founder & CEO of Predictronics added, "We believe TVS Motor Company is an ideal strategic investor and partner for Predictronics with the forward-looking vision, dedication, and clear business case for harnessing the power of advanced analytics technologies. Such investors are rare but also key for a company like Predictronics to guide, improve, and validate our technology, deployment strategy, business model, and go-to market. Having this relationship with a visionary company like TVS Motor Company, I believe, will truly take our company to a whole new level, while also addressing TVS Motor Company's business goals."
Shares of TVS MOTOR COMPANY LTD. was last trading in BSE at Rs.377.3 as compared to the previous close of Rs. 372.45. The total number of shares traded during the day was 91907 in over 1217 trades.
The stock hit an intraday high of Rs. 379.8 and intraday low of 362. The net turnover during the day was Rs. 34310300.