Sasken Technologies witnessed a remarkable surge of 11%, reaching its 52-week high at Rs 1,200 during early trading on October 4. The surge followed the company’s announcement of a strategic collaboration with Qualcomm Technologies through the American tech giant’s IoT (Internet of Things) accelerator program.
This partnership represents a significant milestone in the realm of IoT innovation and reflects the shared commitment of both companies to shape the future of connected devices and services.
The primary objective of this collaboration is to address the challenges faced by various industries in their IoT initiatives, with a focus on achieving seamless integration, scalability, and enhanced security measures.
By harnessing Sasken’s comprehensive end-to-end IoT capabilities and leveraging Qualcomm Technologies’ industry-leading wireless technologies, this partnership is poised to provide businesses with innovative solutions that drive efficiency, productivity, and transformative growth.
Notably, in September, Sasken Technologies had received approval for a strategic investment of up to Rs 50 crore, either through direct investment or by entering into a joint venture with a globally recognized company specializing in advanced AI, 5G, power-driven IP licensing, custom ASIC design, and foundry services.
Sasken Technologies’ recent surge to its 52-week high underscores the significance of this collaboration and the potential for groundbreaking developments in the IoT landscape.