Wipro invests $5 million in US firm for software support

Indian IT bellwether Wipro Ltd has invested $5 million (Rs.2.8 crore) in US-based Axeda Corporation for software service support to deliver machine-to-machine (M2M) applications to its global customers, the company said late Monday.

"The investment in Axeda will enable us to get access to its cloud-based software service for helping customers enhance business processes and develop enterprise applications in the M2M domain," Wipro chief technology officer Anurag Srivastava said in a statement here.

As a leading provider of cloud-based service and software for delivering M2M applications, Axeda will provide Wipro dedicated access to its technical resources and premium support to drive M2M initiatives.

"We are the only systems integrator (SI) to achieve Axeda platinum partner status for global M2M expertise and solutions. The partnership gives customers ability to benefit from rapid M2M application development while our data analytics will make more informed decisions foster better business outcomes," Srivastava said.

Wipro made the strategic investment in Axeda's platform in view of the growing demand for M2M solutions across verticals by global customers and partners.

"Our strategic partnership with Wipro is built on innovation and strong relationship from field to the executive level," Axeda's president Todd DeSisto said in the statement.

The Axeda platform is being built and tested in Wipro's M2M centre of excellence in Bangalore.