 "Wipro picks stake in Pune startup Altizon Systems")
Technology major Wipro has picked up a 20% stake for Rs 9.78 crore in Pune-based Altizon Systems Pvt Ltd, a startup that is focused on the so called Internet of Things and Big Data technologies. Wipro will resell the Datonis platform for global customers under the Wipro brand as part of the agreement.
Altizon, founded in 2013, has built a platform called Datonis that allows organisations to build connected devices, process device data and gain insights from that data. The so called Internet of Things' focus aligns with Wipro's IoT platform technology stack, the firm said in a notice to the Bombay Stock Exchange.
Altizon reported revenue of Rs 30 lakhs in 2014-15, nearly half its revenue of Rs 45 lakhs in the previous year.
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