 "Wipro picks up stake in Axeda Corp for $5 million")
Country’s third largest software services firm Wipro today said it has invested $5 million in cloud and M2M services provider Axeda Corporation.
With this investment, Wipro and Axeda will accelerate services and end-to-end solutions designed to help organisations connect with any asset, leverage real-time machine data to enhance business processes, and develop new innovative enterprise applications, Wipro said in a statement.
According to sources, Wipro has picked up close to 10% stake in Axeda.
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Wipro will receive top-priority commitment from Axeda and preferential benefits like dedicated access to Axeda’s trained technical resources and premium support and services to drive Machine-to-Machine (M2M) initiatives.
The partnership gives Wipro and Axeda’s customers the ability to benefit from Axeda’s rapid M2M application development and Wipro’s big data analytics capabilities to make more informed decisions that foster better business outcomes, it added.
“Wipro’s investment in Axeda is driven by growing demand and interest for M2M solutions across verticals from global customers and partners alike.
“We find that customers prefer to work with mature partners like Wipro and Axeda who have the capability and experience to plan, build and integrate M2M solutions that are able to demonstrate quick business results,” Wipro Chief Technology Officer Anurag Srivastava said.
Impact Shorts
More ShortsThe companies are building and testing solutions at Wipro’s M2M Center of Excellence in Bangalore for telecommunications, health and life sciences, manufacturing and, energy and utility markets.
Earlier in the year, Wipro Technologies had inked a global pact with Axeda to offer end-to-end solutions for leveraging machine-to-machine (M2M) communication.
M2M refers to technologies that allow wireless and wired systems to communicate with other enabled-devices.
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