Tech Mahindra, Texas Instruments partner on Internet of Things lab in Bangalore

IT services major Tech Mahindra on Thursday said it had partnered Texas Instruments to set up a lab in Bangalore to launch innovative solutions based on the concept of Internet of Things (IoT).

In a statement, Tech Mahindra said the new lab would also allow it to launch innovative solutions based on the concept of  (IoT) in industrial, medical and automotive sectors.

The Internet of Things (IoT) is an evolving space as billions of devices are being connected on the go and consumers are looking for intelligence from connected devices, equipment and infrastructure.

Texas Instruments (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors.

Tech Mahindra sees this collaboration with TI as a compelling opportunity to synergise capabilities while addressing this market opportunity, it said.

While consumers are excited with solutions that are connected, efficient and affordable to help them perform everyday work effectively, enterprises are looking at connected ecosystems to drive customer satisfaction and operational efficiency and increased predictability.

"We have established the TI Lab to complement TI's silicon product/platform solutions. Establishing this lab reinforces our commitment to bring technology/digital platforms from our partner ecosystem which meets customer demands in this connected world," Tech Mahindra Global Head, Integrated Engineering Solutions, Karthikeyan Natarajan said.

Back in June 2013, Tech Mahindra completed a takeover of its partly-owned unit Mahindra Satyam. Tech Mahindra bought a 42.7 percent stake in Hyderabad-based Satyam in April 2009 when it was on the verge of collapse following an accounting scandal.

The company has since operated under the name Mahindra Satyam and has emerged from the crisis profitable, posting a net profit of 9.01 billion rupees ($152 million) for the last financial year ended March 2013.

The two companies approved a full merger in March 2012. The takeover of the remaining stake involves an exchange of stocks, with Satyam shareholders receiving one Tech Mahindra share for every 8.5 Satyam shares.