Telenav, a provider of connected-car and location-based services, announced it has entered into a strategic partnership and transaction with Grab, Southeast Asia’s super app provider, to boost the latter’s development of geo-based products and services using Telenav’s OpenTerra platform. Grab plans to use Telenav’s OpenTerra platform to process data from its fleet of vehicles to enhance its location-based services.
This is the first major deal for Telenav in which it will provide its OpenTerra platform to an outside company. As part of the agreement, Grab will purchase the technology underlying the OpenTerra platform with plans for certain members of the OpenTerra team to join Grab. Telenav will be able to continue developing the platform going forward through a license back to the OpenTerra platform, with the ability to provide and sub-license the platform to current and future customers.
Closing of this transaction is subject to customary conditions and is expected to occur before the end of Telenav’s fiscal year 2020.