Foreign Investor Eyes Majority Stake in TPL Trakker

An international investment group has expressed interest in acquiring a majority stake in TPL Trakker Limited, the vehicle tracking and Internet of Things solutions provider owned by TPL Corporation Limited.

In a notice submitted to the Pakistan Stock Exchange on Wednesday, TPL Corp said the potential transaction remains subject to corporate, regulatory, and statutory approvals, as well as due diligence, negotiations with shareholders, and the signing of definitive agreements.

TPL Trakker, which is ultimately owned by TPL Holdings (Private) Limited, was incorporated in December 2016 as TPL Vehicle Tracking (Private) Limited. The company is engaged in installing and selling vehicle tracking devices and offers fleet management services.

The company also provides a range of Internet of Things solutions, including fuel monitoring, cold chain monitoring, genset monitoring, and driver behavior monitoring services for various industries.

Last year, Trakker Middle East LLC secured its first project in Africa, supplying Internet of Things based fuel monitoring solutions in Chad and expanding its presence beyond the Middle East.

TPL Corp did not disclose the identity of the prospective investor or the size of the proposed investment.