Ashok Soota-led Happiest Minds Technologies has acquired Cupola Technology, a start-up specialising in IoT services.

Happiest Minds did not disclose the size of the deal but said that this is a ‘strategic’ acquisition. Cupola Technology, based in Bengaluru, was founded in 2011 by Ajay Agrawal and Huzefa Saifee, both serial entrepreneurs. For Happiest Minds, apart from Soota who has invested in the company, others such as JP Morgan Private Equity Group and Intel Capital have made investments, details of which have not been disclosed.

This acquisition is in line with Happiest Minds’ vision to expand its already thriving IoT business by bringing in complimentary frameworks, ready to use solutions and marquee customers. “IoT forms a very import part of our strategy and since 2014, we have managed to make inroads into industries like manufacturing, transportation, utilities and retail,” said Soota, Executive Chairman, Happiest Minds Technologies. This acquisition will give us additional momentum in IoT, he added.

Further, Cupola’s IPs for gateway management, smart provisioning and asset management will help Happiest Minds to develop, conceputualise and manage wide-scale IoT deployments.

IoT is emerging as one of the hottest technologies, which involves putting a sensor on every machine, which throws information via the Internet. Based on this information, companies can make informed decisions on various aspects of their businesses. Nasscom recently opened its first IoT centre in Bengaluru in an effort to reskill employees as well as handholding colleges to incorporate various aspects of IoT in its curriculum.

Happiest Minds will continue to build on its partner ecosystem by investing in its IoT platform partnerships with Microsoft Azure IoT and PTC ThingWorx. The company also plans to go for an IPO in the next three years.

Related Topics
comment COMMENT NOW