Sasken Technologies Limited intends to acquire the ODM and software services business of Borqs Technologies, strengthening its capabilities in the IoT market.

Target Company Overview

Sasken Technologies Limited, a prominent global player in product engineering and digital transformation services, has announced its intent to acquire the ODM and software services division of Borqs Technologies, Inc. This acquisition marks a strategic effort to enhance Sasken’s capabilities in IoT solutions. Borqs, a publicly traded company established in 2007, specializes in developing end-to-end wireless product solutions for mobile telecommunications and the Internet of Things (IoT). With a team of approximately 300 employees and partnerships with key industry players, including Qualcomm, Borqs is dedicated to providing customizable wireless product solutions across various sectors such as utilities, healthcare, and smart cities.

Industry Overview in India

India's IoT sector has been experiencing rapid growth due to increasing digitalization, favorable government initiatives, and rising investments from private players. The demand for IoT devices is fueled by advancements in technology, the proliferation of 5G networks, and the need for efficient smart solutions in urban areas. According to market reports, the Indian IoT market is anticipated to grow exponentially, creating new opportunities for companies specializing in connected devices.

Furthermore, the government of India has initiated several programs aimed at developing smart cities, which further bolster the demand for IoT solutions. This focus on urban