Gaia Smart Cities a Mumbai based Internet devices firm has acquired Netcore a Internet of Things business of communications service provider in an equity deal.
Gaia Smart Cities was founded in 2015 by Bipin Pradeep Kumar and Dr. Sumit D. Chowdhury. It provides internet of things solutions like remote access to gas meter, water meter, and asses tracking. It also provides water bill reading on mobile phones.
Dr. Sumit D. Chowdhury, the founder & CEO of Gaia Smart Cities said
“We were drawn towards the strong technical team, a robust technical platform and extremely focused approach of the Netcore IOT team. We found great synergies with our own Smart Cities platforms and solutions like Smart Metering and Smart Tracking.”
Internet of things connects various devices with internet to control and extract data on their function in structured format including switching on or off to AC and TV, calorie burn data from smart wrist bands, etc.
The partnership will create innovative enterprise and a leading technology. It will allow Gaia to be one of the fastest growing Internet of Things company with a solution for both smart cities and industrial automation.
Rajesh Jain, founder and managing director of Netcore Solutions said
“We continue to believe in the potential of IoT and Smart Cities and have found that the leadership and ideas of Gaia are better and can be aligned to grow this business and support the customers that we already have. We will continue to stay invested with Gaia as the country moves ahead with its various Smart Cities and demand for the solutions developed across the world.”