Rane Holdings has decided to take a 70 per cent stake in Benguluru-based Telematics4U Services Pvt Ltd. Rane Holdings informed the BSE that the acquisition of T4U will enable it to enhance its capability in connectivity which is a “mega trend influencing transportation sector”. Rane will pay ₹1.17 crore for the 70 per cent equity stake by subscribing to a fresh issue of shares and purchase from existing shareholder. It will also invest ₹27 crore over the next two years to scale up operations. T4U will benefit from the growing demand for improved fleet efficiency, vehicle diagnostics and IoT-based solutions.