Auto tech startup ReadyAssist said it has acquired multi-brand two-wheeler workshop chain SpeedForce for $10 million (around Rs 82 crore) in a cash plus stock deal. Vadodara-based SpeedForce is a leading chain of two-wheeler multi-brand workshops in the country with more than 300 workshops.
With this acquisition, ReadyAssist will become India’s largest chain of multi-brand two-wheeler workshops, the Bengaluru-based company said in a statement.
“ReadyAssist is very successful in operating a pan India roadside assistance and doorstep service to our 8,00,000 subscribed customers. This acquisition will help us extend the reach to our customers in their need for general periodic services and major repairs,” ReadyAssist CEO Vimal Singh SV said.
Starting with 300 workshops, the idea is to scale to over 1,000 workshops in the next one year including four-wheeler multi-brand outlets, he added.
Source: Economic Times