US-listed eastern European developer Luxoft has acquired Radius Inc, a US-based solution provider focused on the growing Internet of Things (IoT) industry. Radius delivers enterprise solutions across mobile, cloud, data and application programming interface (API) technologies for select Fortune 500 clients.
Earlier this year Luxoft launched a Centre of Excellence focused on developing expertise and solutions related to IoT, where as IDC says, “a transformation is underway that will see the worldwide market for IoT solutions grow from $1.9 trillion in 2013 to $7.1 trillion in 2020.”
“We consider the acquisition of Radius to be instrumental to further differentiation and development of our company as an innovation driven provider of complex services and solutions,” said Luxoft CEO and President Dmitry Loschinin (above). “The subject of IoT is a very new concept which we believe has a tremendous potential for large and small enterprises around the world. Radius is a fast growing company with advanced engineering expertise and impressive client base of Fortune 500 accounts, both of which are complementary to Luxoft. We are excited about this opportunity, which allows us to expand cross-vertical, end-to-end offerings we bring to our clients globally.”