- It will be an all cash deal but the amount was not disclosed
- Meritech and Eoxys, which are privately held companies and do not have any outside investor(s), already had a relationship for the last few years
Meritech Co., Ltd. HQ in Japan announced that it will acquire majority stake in Bangalore-based Eoxys Systems India, which provides engineering services and solutions for IoT through its subsidiary Meritech Software Private Limited in India. It will be an all cash deal but the amount was not disclosed. All employees and current customers of Eoxys will continue to remain so.
Prabhakar Annavi, CEO of Eoxys said, “Eoxys is delighted by the opportunity to become part of the Meritech. Joining hands with Meritech will provide us with unique ability to contribute towards this large industry movement and create a highly innovative IoT ecosystem. We look forward to being a part of this journey.”
Building its IoT products and services for Japanese carriers and enterprise users in the cellular IoT space
Meritech and Eoxys, which are privately held companies and do not have any outside investor(s), already had a relationship for the last few years. The Japanese company has been working with Eoxys for building its IoT products and services for Japanese carriers and enterprise users in the cellular IoT space.
Harish Sachdeva, Group CEO of Meritech said, “This acquisition will enable Meritech to strengthen its footprint in the IoT space. Eoxys will help bolster Meritech’s market share in Cellular IoT, especially NB-IoT and industrial IoT. We are excited to make Eoxys part of Meritech group and will continue to invest more in Cellular IoT market space.”
