Indio Networks acquires Nyxses India to diversify its IoT portfolio
In a move to diversify its product portfolio and business operations, Indio Networks has acquired Nyxses India in pursuit of further expanding its IoT business unit.
Bengaluru-based IoT startup Nyxses India Pvt. Ltd. has a robust portfolio of IoT products along with providing consulting and system integration services.
Indio Networks, a builder of next-generation Connectivity Solutions in Open WiFi, WiFi 6, IoT, 5G and LPWAN technologies, plans to dedicate its IoT unit for specializing in LPWAN (LoRa & Sigfox) and other use cases of IoT. The company currently offers an IoT based Remote Monitoring System for the telecommunications sector. Indio plans to diversify into large-scale Industrial IoT deployments across various verticals. This strategic positioning of the organization at the convergence of Wireless and IoT impels Indio Networks to play in a market with a value of almost $90 billion by 2025.
As part of the acquisition, Founders of Nyxses India i.e., Mr. Vishwanath Angadi and Mr. Deepak Gautam have joined Indio Networks as Vice President of Strategy and Operations and Vice President of Product Engineering respectively.
Vishwanath Angadi, Founder Director, Nyxses India stated that he is “very optimistic about this acquisition since the Indio Network team has exceptional potential. The combination of outstanding engineering minds with a sincere passion for building products for the connected world is phenomenal and we are looking forward to experiencing growth and stronger profitability in the near future.”
Deepak Gautam, Founder of Nyxses India added, “we are excited to be part of Indio Networks and given the company’s vision, this acquisition will speed up product development and reduce time to market.”
Leadership at Indio has taken this decision keeping in mind the technology acceleration and business value that IoT holds.
“While Indio has been working on IoT projects since the inception of IoT, we wanted to engage an organization with a diverse IoT portfolio as a part of Indio to reduce our time-to-market and accelerate top-line growth. The technology trends are going to be led by IoT and IIoT deployments, from where the major business value will come from. Indio is confident about achieving its business goals and we’re excited to approach the market with our upcoming portfolio of IoT products and services” said Mr. Rishikesh Ghare, CEO of Indio Networks.
Follow Startup Story
Related Posts
