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June 03, 2013

Deal Alert: Wipro invests $5-M in M2M platform provider Axeda

Wipro has made a $5-million investment for a minority stake in Axeda, a provider of cloud-based service and software for managing connected products and delivering machine-to-machine (M2M) applications. Wipro has already partnered with US-based Axeda which is among the top three service providers specialising in M-to-M software, which facilitates communication between connected devices such as a refrigerator and smartphone.

The investment in Axeda comes a little after Wipro signed an agreement with US telecom major AT&T to offer machine-to-machine solutions using the Axeda platform. This is the second such minority investment Wipro is making within a month. In May, it announced a $30-million minority investment in US-based big data analytics firm Opera Solutions.

Source: BSE, Economic Times

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