Bangalore-headquartered enterprise technology company, Happiest Minds Technologies, has acquired Internet of Things (IoT) services firm Cupola Technology, for an undisclosed amount. The acquisition brings in complementary frameworks to Happiest Minds’ IoT business.
The company has operations in the US, UK, the Netherlands, Australia, Middle East and Turkey as well.
The addition of Cupola further strengthens its focus on the smart living, smart enterprise and smart industrial domains. It will now have end-to-end IoT offerings across devices, platforms, Big Data & Analytics and smart visualization. Cupola’s IPs for gateway management, smart provisioning and asset management deepens its capabilities to conceptualize, develop and manage wide-scale IoT deployments.
“We have found that organizations are rapidly moving from proof of concept to enterprise-wide IoT rollouts. This has brought about the need for a dedicated IoT operations center with a solution centric approach. The acquisition of Cupola will add to our IoT center of excellence with a like-minded team that is focused towards driving customer value” said Sashi Kumar, CEO & MD of Happiest Minds Technologies.
IoT is an integral part of Happiest Minds’ business strategy and claims to have gained considerable market traction and won IoT business across industries like manufacturing, transportation, utilities and retail, in the last three years.
Cupola Technology was founded in 2011 by Ajay Agrawal and Huzefa Saifee and has delivered high value IoT projects to customers globally. Its few accomplishments include:
Designed and delivered an industrial IoT solution to manage plant personnel and assets for a US-based chemical factory
Developed an end-to-end IoT solution encompassing antenna management, premise management and weather monitoring for one of the largest telcos in India
Opened new revenue streams for a Hong Kong based consumer electronics company by adding remote monitoring and management capabilities to their products
Speaking about his decision to be a part of Happiest Minds, Ajay Agrawal, Co-founder & CEO of Cupola Technology, said, “A connected ecosystem was at the heart of founding Cupola in 2011 and IoT based solutions have been the driving force behind our success. As we were looking to fuel the next level of growth, joining hands with Happiest Minds provides us with a great platform. We are excited to start a new chapter of our journey and build on the trust we have earned from our customers.”
Happiest Minds claims that it is on track to become the fastest Indian IT services company to reach a $100 million run rate and plans to go public within the next three years.