An international investment group has shown interest in acquiring a majority stake in TPL Trakker Limited, the vehicle tracking and Internet of Things solutions company owned by TPL Corporation Limited, according to a notice submitted to the Pakistan Stock Exchange on Wednesday.

TPL Corp said the potential transaction is still at a preliminary stage and remains subject to corporate, regulatory and statutory approvals, as well as due diligence, negotiations with shareholders and the execution of definitive agreements.

The company did not disclose the identity of the prospective investor or the size of the proposed investment.

TPL Trakker operates under the ultimate ownership of TPL Holdings (Private) Limited. It was incorporated in December 2016 as TPL Vehicle Tracking (Private) Limited and is engaged in the installation and sale of vehicle tracking devices, along with the provision of fleet management services.

In addition to its core tracking business, the company offers a range of Internet of Things solutions, including fuel monitoring, cold chain monitoring, genset monitoring and driver behavior monitoring services across multiple industries.

The development comes as TPL Trakker continues to expand its footprint beyond Pakistan. Last year, Trakker Middle East LLC secured its first project in Africa by supplying IoT-based fuel monitoring solutions in Chad, marking the company’s entry into a new regional market.

Any transaction, if concluded, would mark a significant development for TPL Trakker as it looks to scale its technology-driven mobility and monitoring business with support from an international investor.