Titan buys Hyd-based HUG Innovations

Bengaluru: Leading Indian diversified watchmaker Titan acquired Hyderabad-based wearable and IoT platform startup HUG Innovations, which has been transformed into Titan's Hyderabad Development Centre, the company announced on Tuesday.

"HUG Innovations has finally sailed to a safe harbor. Titan acquired HUG Innovations. And yes this is a cash positive exit with 100 per cent employee retention with bonus and a great career ahead," said the startup's founder Raj Neravati in a Facebook post after the announcement by Titan.

However, he declined to divulge the value of the acquisition.

Neravati started HUG to address women's safety issues, triggered by the Nirbhaya incident way back in 2012.