Luxoft acquires US Internet-of-Things solution provider Radius

Earlier this week Luxoft, a NYSE-listed provider of software development services and innovative solutions and a part of Russia’s IBS Group, announced the acquisition of Radius Inc., a US-based provider of Internet-of-Things (IoT) solutions.

Radius delivers modern enterprise solutions across mobile, cloud, data and API technologies for large corporations to “help them capture, manage, and gain value from their growing volume of enterprise data.”

Earlier this year Luxoft launched a “Center of Excellence” focused on developing expertise and solutions related to the fast-growing IoT industry.

“It is quite startling to think about the wealth of valuable information that is still held captive within connected appliances, wearables, industrial sensors and other smart devices. We believe that effective application of IoT analytics to operational, industrial and even financial data has the potential to make a vital difference in improving efficiency and effectiveness with which enterprises run today,” said Michael Minkevich, Luxoft’s Vice President of Technology Services and the head of Luxoft’s Menlo Park, CA office.

Luxoft claims that it will now have the ability to offer specialty expertise around sensor data acquisition, real-time analytics and modern cloud platforms. Further, IoT-related domain knowledge will create enhanced productivity and time-to-market for Luxoft’s existing clients in automotive, energy, technology and telecom verticals.

Before the acquisition of Radius, the total number of Luxoft employees exceeded 7,000 people, with more than half in Ukraine and Russia.

A few months ago Luxoft announced that the company was transferring hundreds of its most experienced employees to development centers in Bulgaria, Romania, Poland and possibly Vietnam. The company explained the move by the fact that its clients were worried by the potential risks for their businesses which stemmed the events in Ukraine and the sanctions against Russia.

Topics: Finance, International, Internet, Internet of Things, M&A, News
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