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Last Updated : Aug 08, 2018 02:08 PM IST | Source: Moneycontrol.com

Genesys International rises 5% on signing MoU with Wipro

The company has signed a memorandum of understanding (MoU) with Wipro to jointly tap the opportunity in the autonomous car sector.

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Shares of Genesys International Corporation added 5 percent intraday Wednesday as company signs MoU with Wipro for autonomous vehicles.

The company has signed a memorandum of understanding (MoU) with Wipro to jointly tap the opportunity in the autonomous car sector.

As per the MoU, Genesys will use its core strength and the expertise to develop HD maps and content while Wipro will develop the navigational and control technology for autonomous system and smart mobility companies.

Rajendra Tamhane, Senior Vice President, Genesys said, "We are glad to partner with Wipro for developing HD mapping for autonomous driving. HD Mapping for autonomous driving is a USD 10 billion opportunity, which is here and now."

The meeting of the board of directors of Genesys is scheduled on August 14, to consider and approve the un-audited financial results (standalone) for the first quarter ended June 30, 2018.

At 14:00 hrs Genesys International Corporation was quoting at Rs 211.50, up Rs 3, or 1.44 percent on the BSE.

Posted by Rakesh Patil
First Published on Aug 8, 2018 02:08 pm
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