Proving the Business Case for the Internet of Things

India's Altiux acquires M2M platform provider P-Device Systems: report

Iain Morris
August 28, 2014
 
India’s Altiux Innovations is reported to have announced a takeover of local M2M platform provider P-Device Systems.

According to a report from VCCircle.com, P-Device Systems (Bangalore, India) develops M2M and converged cloud platforms for companies operating in the Internet of Things (IoT) space.

The financial terms of the deal were not disclosed.

“With P-Device’s products as part of our portfolio, we are geared up to be an end-to-end solution and service provider in M2M & IoT domain,” said Shyam Vedantam, the chief executive and co-founder of Altiux (Bangalore, India), as quoted by VCCircle.com.

“Our toolkit approach ensures integration of our building blocks with third-party components and facilitates accelerated solution development, faster go-to-market, lower cost of ownership and an open ecosystem for our clients,” he is said to have added.

P-Device’s platform is reportedly suited to applications developed for smart homes, smart enterprises and street lighting.

Altiux was founded last year by Vedantam and Sunil Motaparti, the founder of BitChemy Ventures (Hyderabad, India), an investment firm that has provided $2 million in funding for the start-up.

The company’s own platform allows enterprises to connect wireless and legacy devices and develop web and mobile applications and is described as a “core component” of the IoT toolkit that Altiux is developing, according to VCCircle.com.

Altiux is said to be keen to engage with enterprises across consumer electronics, manufacturing and the home and buildings industry verticals and is also looking to expand its presence in the Indian and North American markets.

“We are closely following the developments in IoT and connected world technologies,” said Vedantam, according to VCCircle.com. “We see that enterprises, both medium and large size, have started adopting IoT solutions on a large scale to bring operational efficiencies, reduce costs, find new revenue streams and provide new experiences to their customers.”
 
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