The Press Trust of India has reported that Internet devices firm ‘gaia Smart Cities’ had acquired Internet of Things (IoT) business of communications service provider Netcore in a an equity deal.
Founder and CEO of gaia Smart Cities was quoted as saying, “We have finalised deal to acquire IoT business of Netcore in an equity deal. Gaia will get ownership of Netcore’s IoT business and Netcore will invest in gaia,” gaia Smart Cities Founder & CEO Sumit D Chowdhury.
Gaia Smart Cities is an early leader in the rapidly-emerging IoT marketplace; and is creating a public Network as a Service (NaaS) in India for low-cost/long-range IoT applications. Gaia Network enables monitoring/metering services, tracking services and control services that will help cities in India to become ‘Smart’.