Japan's Mobile Create takes over Singapore, India GPS intelligence firms
NEW DELHI, NNA – Japanese GPS-assisted mobility information service provider Mobile Create Co. has taken over a Singaporean GPS intelligence service firm and its Indian subsidiary to prepare for business expansion in South and Southeast Asia.
Mobile Create Co. raised its share in Singapore-based InfoTrack Telematics Pte. Ltd. from 14.09 percent to 67.91 percent last Tuesday, Mobile Create’s parent company Future Innovation Group Inc. said the same day.
The 15-year-old Singapore company set up its Indian subsidiary InfoTrack Telematics Pvt. Ltd. in 2008. It offers corporate clients geographical positioning information services in India, the Middle East and other emerging Asian countries.
The Japanese firm said in a statement it intends to build up the Indian subsidiary as software development base in the country’s information technology hub of Bengaluru.
Mobile Create bought some of the shares from Singapore firm’s largest shareholder, Zenrin DataCom Co., a Tokyo-based map data provider. In addition, it converted InfoTrack Telamatics’ convertible bonds into an equity stake. Mobile Create had acquired the convertible bonds in 2016.