5 Million USD Stake Positions Companies to Capitalize on Rapidly Growing M2M Market5 Million USD Stake Positions Companies to Capitalize on Rapidly Growing M2M Market
Foxboro, MA, USA and Bangalore, India - June 3, 2013:
Wipro Ltd. (NYSE:WIT), a leading Global Information Technology, Consulting and Outsourcing company and Axeda Corporation, the leading provider of cloud-based service and software for managing connected products and delivering machine-to-machine (MM) applications, today announced that Wipro, an Axeda Platinum Partner, has made an investment in Axeda. With this investment, Wipro and Axeda will accelerate services and end-to-end solutions designed to help organizations connect with any asset, leverage real-time machine data to enhance business processes, and develop new innovative enterprise applications.
As a Platinum Partner, Wipro 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. The Information Technology, Consulting and Outsourcing company is recognized for its global M2M expertise and solutions. 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 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 ability 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 organizations 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 capitalize on rapidly evolving M2M opportunities."
The Wipro and Axeda portfolio is being built and tested in Wipro's state-of-the-art M2M Center 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.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360-degree view of "Business through Technology"; helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability; Wipro has over 140,000 employees and clients across 54 countries. For more information, please visit www.wipro.com.
About Axeda
Axeda provides the leading 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 optimize their business processes with data from their connected products.
By relying on the Axeda® Platform to power their connected products, companies are transforming their business by improving customer satisfaction, reducing costs, and generating new sources of revenue. The M2M solutions behind these connected products range from remote service, fleet management, usage-based insurance, asset tracking, mHealth, and more. Join our developer community at:
http://developer.axeda.com and learn more at www.axeda.com.
Media Contacts Wipro Ltd.
Vipin Nair
+91-80-39916190
vipin.nair1@wipro.com
Media Contacts Axeda
Catherine Purcell Gryska
508-530-5313
cpg@axeda.com
Dan Carlson
617-969-9192
dcarlson@corporateink.com
Forward-looking and Cautionary Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
