TVS Motor Company announced that the company is investing USD 1 million through its subsidiary, TVS Motor Singapore, in Altizon Inc, USA. As per this investment, 212,220 Series A Preferred stock will be issued by Altizon Inc. to TVS Motor Singapore.
Altizon, an Industrial IoT company, empowers Industrial Digital Revolutions globally by helping enterprises use machine data to drive business decisions. Altizon enables digital transformation in enterprises by accelerating Smart Manufacturing initiatives, modernizing Asset Performance Management, and pioneering new Business Models for service delivery.
Altizon is a leading Industrial IOT platform provider recognized by Gartner in its Magic Quadrant for IIoT Platforms. Altizon has a presence in Pune, India and Scotts Valley, California, USA.
This is a related party transaction, as TVS Motor Company (TVSM) subsidiary, TVS Motor Singapore is already a shareholder in Altizon Inc. The acquisition is being done at 'arm's length'
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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