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Wipro picks up 10% stake in Axeda for $5 million

Wipro picks up 10% stake in Axeda for $5 million
Country's third largest software services firm Wipro on Monday said that it has invested $5 million in cloud and Machine-to-Machine (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 per cent stake in Axeda.
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 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.
Agencies

Agencies

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