Titan Industries picks up a stake in Innoviti Embedded Solutions

Titan Industries picks up a stake in Innoviti Embedded Solutions

Titan Industries has confirmed that they have picked up a 5 per cent equity stake in Innoviti Embedded Solutions. Innoviti is basically a start-up in the consumer wireless products space.

Rajeev Agrawal, chief executive officer, Innoviti said in a statement: “Titan has picked up a minority stake of about 5 per cent in the company which can go up to 5 per cent when fully converted.”

The company has two products in its lineup along with two product lines — vaayu and payezee. These are marketed in both the local and international markets. They are also working on developing next generation wireless technologies.

Bhaskar Bhat, managing director, Titan Industries added on this acquisition: “Titan is excited about its investment into Innoviti and looks forward to this relationship developing into several strategic initiatives in the consumer wireless space. Through this relationship, Titan Industries will be enhancing its technology reach into the wireless space – one of the most important innovations to affect a consumer in the 21st century.”