/PRNewswire/ Global motion technology company Schaeffler is demonstrating its vision for the future of personal transportation at two Detroit-area trade.
Schaeffler India Ltd on Monday said it will fully acquire KRSV Innovative Auto Solutions Pvt Ltd, an automotive aftermarket spare parts platform, for Rs 142.4 crore. Bengaluru-based KRSV Innovative Auto Solutions, which operates under the brand Koovers, offers spare parts solutions to Indian aftermarket workshops via a B-to-B e-commerce platform.
This acquisition presents an ideal synergy for Schaeffler’s future aftersales activities in India. It will be a key enabler for the aftermarket ecosystem, including distribution partners and help to play an important role in the fast growing and evolving aftermarket digital landscape, the company said.
Schaeffler AG (OTCMKTS:SCFLF – Get Free Report)’s share price rose 0.9% during mid-day trading on Thursday . The stock traded as high as $6.52 and last traded at $6.52. Approximately 5,440 shares traded hands during trading, an increase of 414% from the average daily volume of 1,059 shares. The stock had previously closed at $6.47. […]