Wipro takes US$5m stake in M2M platform provider Axeda Corp as ST-Ericsson sells its GNSS business


Foxboro, MA, USA & Bangalore, India.  June 03, 2013 Wipro Ltd., a global IT, consulting and outsourcing company, and Axeda Corporation, a cloud-based service and software provider for managing connected products and M2M applications, today announced that Wipro has made a US$5 million investment in Axeda. Meanwhile, ST-Ericsson is to sell its connectivity [GNSS] business.

With this investment, Wipro and Axeda intend to accelerate the development of services and end-to-end solutions to help organisations connect with any asset, leverage real-time machine data to enhance business processes, and develop new innovative enterprise applications.

As a Platinum Partner, Wipro (NYSE:WIT) will receive top-priority commitment from Axeda and preferential benefits such as dedicated access to Axeda trained technical resources and premium support and services to drive machine-to-machine (M2M) initiatives. Wipro is the only systems integrator (SI) partner to have achieved Axeda Platinum Partner status.

Wipro has received advanced technical training on the Axeda Machine Cloud. It has demonstrated success in advanced global M2M deployments, and in leveraging the Axeda Cloud to build vertical market applications for the M2M market. Customers can reportedly team with Wipro “to fulfill advanced and sophisticated M2M requirements and bring vertical M2M solutions to market more rapidly and cost effectively”.

The partnership gives Wipro and Axeda’s customers the chance 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.

“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,” said Dr. Anurag Srivastava, Chief Technology Officer, Wipro.

“Our strategic partnership is built on our history of combined innovation and the strong relationship between our two organisations that reaches from the field to the executive level,” said Axeda’s president, Todd DeSisto. “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 capitalise on rapidly evolving M2M opportunities.”

The Wipro and Axeda portfolio is being built and tested in Wipro’s M2M Centre of Excellence in Bangalore. Assets include an integrated M2M stack, various deployment models and reference applications for the telecommunications, health and life sciences, manufacturing and, energy and utility markets.

Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company. Wipro is known globally for its wide-ranging portfolio of services, a practitioner’s approach to delivering innovation and an organisation-wide commitment to sustainability. Wipro has over 140,000 employees and clients in 54 countries.

Axeda Corporation
Wipro is investing $5m in Axeda Corporation

Axeda provides cloud-based service and software for managing connected products and implementing innovative M2M applications — significantly reducing the cost and complexity of connecting and remotely servicing the products of the world’s leading companies. Axeda customers use its M2M application enablement platform to deliver innovative M2M solutions and optimise their business processes with data from their connected products. The M2M-supported sectors range from remote service, fleet management, and usage-based insurance, to asset tracking, mHealth, and more.


ST-Ericsson announces sale of its Connectivity [GNSS] business

ST-Ericsson, a joint venture of STMicroelectronics (NYSE: STM) and Ericsson (NASDAQ: ERIC), has agreed to sell the assets and intellectual property rights (IPR) associated with its mobile connectivity Global Navigation Satellite System (GNSS) business to an unnamed semiconductor company. Terms of the deal were not disclosed.

The last few days have also seen the sale by STMicroelectronics of its ST-Ericsson Mobile Connectivity Global Navigation Satellite System (GNSS) business. STMicroelectronics (NYSE: STM) is a global semiconductor provider serving customers across the spectrum of electronics applications. ST-Ericsson, a 50-50 joint venture with Ericsson, has sold the assets and intellectual property rights (IPR) associated with its mobile connectivity Global Navigation Satellite System (GNSS) business.

“Today’s transaction validates the leading innovation developed by ST-Ericsson in mobile navigation systems and marks a further important step towards the execution of our shareholders’ decision to exit from ST-Ericsson,” commented Carlo Ferro, president and CEO of ST-Ericsson. “I am pleased that this organisation will continue to develop leading-edge technologies and delighted that the team found a new home at a leading player in the semiconductor industry.”

ST supplies the semiconductor market, serving customers across the spectrum of sense and power technologies and multimedia convergence applications. From energy management and savings to trust and data security, from healthcare and wellness to smart consumer devices, in the home, car and office, at work and at play, ST is found everywhere microelectronics make a positive and innovative contribution to people’s life.

In 2012, ST-Ericsson’s net revenues were US$8.49 billion.

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