Narayan AmmachchiIndian IT services providers Tech Mahindra and HCL Technologies have reportedly acquired a 13.8% stake each in US-based IaaS provider AustinGiS.
Together, they have invested US$2.50 million, according to news reports in Indian media.
AustinGiS is less than one year old, but is projected to make US$22 million in revenue for the current year.
A partnership with GIS will make it easier for the Indian IT providers to develop solutions in Information of Things (IoT) and 5G telecom networks.
“The investment will help Tech Mahindra develop new offerings in its loT/5G capabilities by opening up a strong ecosystem of partners with specialization in SG/loT technology,” the Indian firm said in a note to its stock investors.
AustinGiS is reportedly associated closely with O-RAN Alliance for 5G networks. Its technology solutions help telecom companies to build a fully functional 5G network using off-the-shelf components and downloadable software.
Tech Mahindra is hopeful that the investment in GIS could pave the way for acquiring lucrative contracts in the global telecom market.
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