Wipro makes $5 million investment in Axeda for minority stake

Indian software giant Wipro has made a $5 million investment in Axeda in exchange for a minority stake in the M2M platform provider, the size of which has not been disclosed.

The Indian firm says it wants to capitalize on the rapid growth in the M2M market and plans to develop new enterprise applications in partnership with Axeda (Foxboro, MA, USA).

Indian software giant Wipro has made a $5 million investment in Axeda in exchange for a minority stake in the M2M platform provider, the size of which has not been disclosed.

The Indian firm says it wants to capitalize on the rapid growth in the M2M market and plans to develop new enterprise applications in partnership with Axeda (Foxboro, MA, USA).

Wipro (Bangalore, India) is already a so-called ‘platinum partner’ of Axeda, giving it access to the M2M specialist’s technical resources, and runs an M2M Center of Excellence in Bangalore that is developing and testing a portfolio of services the two companies plan to offer.

These include various deployment models and reference applications for the telecoms, health and life sciences, manufacturing and energy and utilities markets.

Wipro says the combination of its big data analytics capabilities with Axeda’s expertise in M2M application development will “foster better business outcomes” for customers.

In May, Wipro made a $30 million investment in Opera Solutions, a big data analytics company based in the US.

“Wipro’s investment in Axeda is driven by growing demand and interest for M2M solutions across verticals from global customers and partners alike,” said Anurag Srivastava, Wipro’s chief technology officer.

Wipro recently struck an agreement with US telecoms operator AT&T (Dallas, TX, USA) to jointly offer M2M services over the Axeda platform, which topped a ranking of M2M application development platforms recently compiled by Strategy Analytics.

The market-research firm praised Axeda for the flexibility and scalability of the platform, as well as its ecosystem of partners.

“Our strategic partnership is built on our history of combined innovation and the strong relationship between our two organizations that reaches from the field to the executive level,” said Todd DeSisto, Axeda’s president, about the deal with Wipro.

“We are committed to the continued growth of our joint customer base, and the result of this investment will be a faster, more streamlined solution that is benefits-driven and poised to capitalize on rapidly evolving M2M opportunities,” he added.