Small Cap IT Stock Hit 52-Week High On Collaboration With Qualcomm Technologies

Sasken Technologies Ltd. shares hit a 52-week high price of Rs 1,2083.90 apiece on 4 October after the company announced entering into a collaboration with Qualcomm Technologies through the IoT (Internet of Things) Accelerator Program.

The company announced that it collaborated with Qualcomm Technologies through the IoT accelerator program to address the difficulties that different industries experience while using IoT, including scalability, seamless integration, and security.

"By leveraging Sasken's end-to-end IoT capabilities and Qualcomm Technologies' industry-leading wireless technologies, the collaboration is poised to empower businesses with innovative solutions that drive efficiency, productivity, and transformative growth," the company stated in the filing.
"We are excited to collaborate with Qualcomm Technologies and the distinction of being chosen as a member of their IoT Accelerator Program, to reinforce our relentless pursuit of excellence and innovation in the technology realm. Joining this program with Qualcomm Technologies holds immense promise and opens exciting possibilities for both companies. We are eager to contribute to the growth of the IoT ecosystem," said Abhijit Kabra, CEO, Sasken Technologies Ltd.

"This collaboration with Qualcomm Technologies is a testament to our decades old relationship and shared vision of leveraging IoT to revolutionize industries and enhance people's lives. By combining Sasken's deep expertise in IoT solutions with industry-leading innovations from Qualcomm Technologies, we are poised to create transformative solutions that will drive meaningful change across sectors."
"The Qualcomm IoT Accelerator Program is designed to create a robust ecosystem of connected IoT devices, driven by collaborations that can transform industries, business models, and experiences," stated Atul Suri, VP, Strategy and Analysis, global head of business development and partnerships, Qualcomm Technologies, Inc.

"This collaboration will leverage Sasken's extensive experience in IoT product engineering, combined with Qualcomm Technologies' advanced offerings, to accelerate the creation of robust, securityrich, and efficient IoT solutions."
Speaking on the occasion, Chairman of Sasken Technologies Ltd., Rajiv C. Mody, stated, "This collaboration with Qualcomm Technologies is a strategic step towards advancing the adoption of IoT across industries. We are committed to pushing the boundaries of what IoT can achieve, and this collaboration will enable us to deliver solutions that not only meet the current demands but also anticipate future needs. Together, we will shape the future of connected devices and enable our customers to excel in this rapidly evolving digital landscape."

Sasken Technologies' stock price on Wednesday closed 8.10% higher at Rs 1,156.30 apiece on BSE after hitting a 52-week high price. Stock has given 41.10% positive return in 1 year, 66.12% in 3 years, and 35.03% in 5 years, respectively.