California-based company, Globetouch Inc. has acquired Teramatrix Technologies Ltd. The financial details of the acquisition were not shared yet. Post acquisition, Globetouch will be using Teramatrix xFusion platform to create high-value network applications that support Connected Cars, Autonomous Driving, predictive maintenance and edge intelligence to protect the car from a kidnapper and will help in providing better services through enabling applications. The acquisition will increase the value for both Globetouch and Teramatrix customers.
Riccardo Di Blasio, CEO of Globetouch mentioned that “The addition of Teramatrix significantly improves our network and Connected Car strategies. We will be using our Cloud SIM and xFusion IoT technologies to enable the future of Autonomous Cars.”
Utkarsh Jain, CEO of Teramatrix Technologies commented that “This move provides greater opportunity for our customers to scale, expand and grow their businesses in IoT as they reach out into new markets and geographies,”
After the acquisition, Globetouch will improve its existing global connectivity suite and its networking platform which manages the intersection of big data, machine learning and autonomous systems for some of the world’s largest enterprise customers. They are also looking forward to expanding their network by connecting with car manufacturing companies.