Country's third largest software services firm Wipro on Monday said it has invested $5 million in cloud and M2M services provider Axeda Corporation.
With this investment, Wipro and Axeda will accelerate services and end-to-end solutions designed to help organisations connect with any asset, leverage real-time machine data to enhance business processes, and develop new innovative enterprise applications, Wipro said in a statement.
According to sources, Wipro has picked up close to 10 per cent stake in Axeda.
Wipro will receive top-priority commitment from Axeda and preferential benefits like dedicated access to Axeda's trained technical resources and premium support and services to drive Machine-to-Machine (M2M) initiatives.