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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.