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UST Global is headquartered in California, and has operations in India with centres in Technopark,
Trivandrum, and Infopark in Kochi and Bangalore.
In an official statement, Sajan Pillai, CEO of UST Global, said, “With the acquisition of Andare’s iDispatch
technology, we will be able to offer our clients unmatched enterprise mobile solutions to help enable
major productivity gains in field service operations, and leverage the product platform to launch other
enterprise mobile products. We believe this technology is a game-changer.”
iDispatch is an enterprise mobility solution for the field services industry. It is a client-proven mobility
solution which increases efficiency while reducing the costs associated with providing mobility to field
technicians. It has various features – ranging from real-time service appointment scheduling,
rescheduling and update notifications; management of time, expenses, parts, inventory and assets; realtime
GPS locations of field service personnel for optimized dispatch management; full CRM integration,
Apple Push Notifications and Google GPS Navigation Maps and many more.
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GE acquires Vadodara-based engineering firm Advanced Systek
General Electric Company (GE) has acquired controlling stake in the Vadodara-based terminal
automation solutions provider Advanced Systek Pvt. Ltd for an undisclosed amount, the latter informed
in a statement issued on Thursday.
"We found an attractive growth prospect in selling the majority stake to the General Electric Company.
The deal has been closed and GE would have controlling holding in Advanced Systek," said Mukesh
Kapadia, promoter director of Advanced Systek.
'The current shareholders and GE have entered into agreements pursuant to which the promoters of
Advanced Systek would continue as directors in the combined entity and work with GE to grow the
current business,' Advanced Systek informed in the official statement.
In its filing with the New York Stock Exchange (NYSE), GE informed that it agreed to acquire a majority
stake in Indian engineering company Advanced Systek Pvt. Ltd. However, it did not reveal the size of the
stake it agreed to buy or the deal value.
Advanced Systek controls nearly 60 per cent market share in the automation and flow-metering systems
for the oil and gas sector. "We have been the market leader with over 60 per cent market share and
with GE taking controlling stake, we can look for increased global presence," added Kapadia.
GE, in its statement, informed, "This transaction enables the GE Oil & Gas business to broaden its
offerings for the industry." Advanced Systek provides total solutions to customers, allowing them to
accurately measure, automate and control the distribution of their products from refineries to the end
users.
According to Kapadia, company has some of the noticeable clients including HPCL, BPCL, IOCL in India.
"We have also strong customer base in Gujarat, where we cater to refineries, ports, depots, rail wagon
and port terminals at places like Kandla, Mundra, Rajkot and Ahmedabad," Kapadia said.
Avendus Capital, and Shah Sanjeev & Associates from Vadodara were the financial advisors to Advanced
Systek for this transaction. "This deal is an important milestone in the merger & acquisition space in
India. This is a proof that Indian companies continue to attract global majors to achieve a common goal