Sasken and IDG joint venture, launch ConnectM

By SiliconIndia   |   Friday, 29 June 2007, 07:00 Hrs
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Bangalore: In a joint investment worth $6 million, Sasken Communication Technologies and IDG Ventures India have launched a new company, ConnectM Technology Solutions (ConnectM). The service offerings will range from fleet management, telematics, remote asset management, energy usage optimization, pilferages and theft tracking, after-market services and remote monitoring.

Rajiv Mody, CEO, Sasken Communication Technologies said, "Sasken has been focused on embedded communication solutions in mobile devices. Through ConnectM, we will address customers in transportation, utilities, industrial, and enterprise markets." According to Sudhir Sethi, Vice-Chairman and MD, IDG Ventures India, ConnectM is the result of a collaborative partnership between Sasken, a provider of embedded communication solutions, and IDG Ventures India, a $150-million technology venture capital fund.

Kumar Prabhas, President, Services Division, Sasken has joined ConnectM as CEO. A few more operational personnel from Sasken will join him as founding members at ConnectM, reported Business Standard. Mody will join the ConnectM board as chairman. Some other members on the board are Sudhir Sethi, IDG Ventures, G Venkatesh, Executive Director, Sasken, and T C Meenakshisundaram, Executive Director, IDG Ventures.

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