Sasken Technologies and Qualcomm Join Forces to Drive IoT Innovation
This collaboration marks a significant milestone in the realm of Internet of Things (IoT) innovation and underscores both companies' commitment to shaping the future of connected devices and services.
Sasken Technologies Ltd., a global leader in cutting-edge technology solutions, is excited to announce a collaboration with Qualcomm Technologies, Inc., a pioneer in wireless technologies, through the Qualcomm® IoT Accelerator Program. This collaboration marks a significant milestone in the realm of Internet of Things (IoT) innovation and underscores both companies' commitment to shaping the future of connected devices and services.
Established in 1989, Sasken is a specialist in Product Engineering and Digital Transformation, providing concept-to-market, chip-to-cognition R&D services to global leaders in various industries. With over 30 years of experience and multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP.
The company focuses on implementing future technologies like 5G, AI, ML, IoT, V2X, Blockchain, and more, helping clients with digitalization, modernization, and the launch of industrial products through Product Engineering.
Abhijit Kabra, CEO of Sasken Technologies Ltd., expressed excitement about the collaboration, stating, "This collaboration with Qualcomm Technologies is a testament to our decades-old relationship and shared vision of leveraging IoT to revolutionize industries and enhance people's lives. By combining Sasken's deep expertise in IoT solutions with industry-leading innovations from Qualcomm Technologies, we are poised to create transformative solutions that will drive meaningful change across sectors."
Atul Suri, VP, Strategy and Analysis at Qualcomm Technologies, Inc., highlighted the goal of creating a robust ecosystem of connected IoT devices through collaborations. He noted that this collaboration would leverage Sasken's extensive experience in IoT product engineering and Qualcomm Technologies’ advanced offerings to accelerate the creation of robust, security-rich, and efficient IoT solutions.
Chairman of Sasken Technologies Ltd., Rajiv C. Mody, emphasized the strategic nature of the collaboration, aimed at advancing the adoption of IoT across industries. He stated, "Together, we will shape the future of connected devices and enable our customers to excel in this rapidly evolving digital landscape.”
This collaboration addresses the challenges faced by various industries in their IoT endeavours, such as achieving seamless integration, scalability, and security. By leveraging Sasken's end-to-end IoT capabilities and Qualcomm Technologies’ industry-leading wireless technologies, the collaboration is poised to empower businesses with innovative solutions that drive efficiency, productivity, and transformative growth.
In terms of financials, Sasken Technologies Ltd. has a market cap of Rs 1,804 crore with a 3-year stock price CAGR of 15 per cent. In FY23, the company reported net sales of Rs 447 crores and a net profit of Rs 99 crores. On Wednesday, shares of Sasken Technologies Ltd. rose to Rs 1,185.20 per share with an intraday high of Rs 1,213.00 and an intraday low of Rs 1,091.55. The promoters of the company hold about 43 per cent stake in the company as of June 2023.
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