Mobikit announces acquisition by California-based Azuga
Columbus-based mobility data infrastructure company Mobikit has been acquired by Azuga, a global vehicle analytics provider based in Fremont, California. Together, the two will streamline the data collection process for insurance providers, brokers and more.
Founded in 2019 by Arnab Nandi, Mobikit hit the ground running with advanced software that helps streamline vehicle insights into an easy-to-read workflow. Azuga, founded in 2013, is a provider of vehicle diagnostics, such as how fast fleet drivers travel, accelerate, brake and more.
It’s no surprise there is overlap between the companies — that’s how the two became acquainted. In mid-2020, a client was utilizing both Mobikit and Azuga, and the opportunity for collaboration became apparent, Nandi says.
From there, the two companies went into partnership. With Azuga collecting fleet data and Mobikit organizing it into an algorithm, they can make it easier for insurers to assess the data and offer faster quotes. In the months that followed that first collaboration, it was clear there was more value in completely joining forces, Nandi says.
“One of the benefits was that because we had the partnership before, we already built out a working relationship,” Nandi says. “Strangely enough, the pre-acquisition and post joining forces fairly feels like we’re still doing the same things, but now in a more formal fashion.”
Mobikit’s eight employees will now join Azuga's 500-plus team, but will continue to utilize the Columbus office at 421 W. State St. Whether or not Nandi will retain his CEO title has not been settled. The company plans to hire in Columbus in the near future, he says. The financial terms of the acquisition were not disclosed.
As a computer scientist, Nandi expresses excitement for the acquisition for the opportunity to contribute to the growth of telematics on a larger scale.