Abhijit Kabra, chief executive officer (CEO), Sasken Technologies, said, “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."

Atul Suri, VP, strategy and analysis, global head of business development and partnerships, Qualcomm Technologies, Inc, said, “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, 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.”

Rajiv C. Mody, chairman of Sasken Technologies , 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 is a specialist in product engineering and digital transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in semiconductor, automotive, industrials, consumer electronics, enterprise devices, satcom, telecom, and transportation industries.

The company's consolidated net profit jumped 50.56% to Rs 25.70 crore despite of 4.28% decrease in net sales to Rs 98.49 crore in Q1 FY24 over Q4 FY23.

The scrip has hit 52 week high at Rs 1,208.90 in intraday today.