Roadside assistance startup ReadyAssist acquired Gujarat-based two-wheeler servicing chain SpeedForce for $10 million in a cash and stock deal.
ReadyAssist provides roadside assistance to vehicle owners. It collaborates with service providers to assist vehicle owners with roadside repair services. With this acquisition, SpeedForce intends to open more than 1000 workshops in the coming year and expand to 4000 workshops over the next five years. Furthermore, the startup stated that it intends to strengthen SpeedForce’s franchise chain this year by opening 700 two-wheeler workshops and 72 four-wheeler workshops, bringing the total number of workshops to 1000 by the end of March 2024.