Sasken Technologies zoomed 11 percent to touch its 52-week high of Rs 1,200 in the early trade on October 4 after the company announced a collaboration with Qualcomm Technologies through the American firm's IoT (Internet Of Things) accelerator program.
The collaboration marks a significant milestone in the realm of IoT innovation and underscores both companies' commitment to shaping the future of connected devices and services, it said.
The collaboration aimed to address the challenges faced by various industries in their IoT endeavours such as seamless integration, scalability, and security, the company said.
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, it added.
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In September, the company approved a strategic investment of up to Rs 50 crore either directly or by entering into a joint venture along with one of the companies having a global presence specialising in "advanced AI/5G/Power driven IP licensing, custom ASIC design and foundry service business".
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