Under the partnership, the companies are planning to develop remote patient monitoring systems that are enabled through smartphones. HCL will be responsible for implementation, integration, roll-out and ongoing support of M2M/IoT solutions, in addition to device connectivity.
India's leading software services player HCL Technologies has tied up with European telecom firm Tele 2 to tap market opportunities for Machine-to-Machine and Internet of Things solutions in the continent.
By focusing on the healthcare segment in Europe, the two companies will jointly address one of the fastest growing areas of the M2M and IoT market, HCL Technologies said in a statement. The companies, however, did not disclose the estimated size of the market opportunity.
HCL and Tele2 will work together to reduce transactional and operational costs for their partners, whilst tapping into the lucrative revenue opportunities that exist within the European market, it added.
Under the partnership, the companies are planning to develop remote patient monitoring systems that are enabled through smartphones. HCL will be responsible for implementation, integration, roll-out and ongoing support of M2M/IoT solutions, in addition to device connectivity.
"Tele2's dedicated and fully integrated business unit for M2M solutions demonstrates its clear commitment to this market; earmarking it as our clear partner of choice," HCL Technologies Senior Vice President (ERS) Sukamal Banerjee said.
HCL Tech stock price
On March 05, 2015, HCL Technologies closed at Rs 2064.75, up Rs 28.80, or 1.41 percent. The 52-week high of the share was Rs 2075.00 and the 52-week low was Rs 1372.10.
The company's trailing 12-month (TTM) EPS was at Rs 95.94 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.52. The latest book value of the company is Rs 224.07 per share. At current value, the price-to-book value of the company is 9.21.
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