Mastek Makes Strategic Investment in VolteoEdge, an Edge Intelligence Company in the Connected Enterprise Space

December 16, 2022 07:30 AM Eastern Standard Time

DALLAS--(BUSINESS WIRE)--Mastek (NSE: MASTEK; BSE: 523704), a turnkey & trusted digital engineering & cloud transformation service provider, today announced that it has made a strategic investment in VolteoEdge, a SaaS company with an enterprise-ready Edge Intelligence Platform that enables secure IoT workflows and makes business workflows smarter. The investment demonstrates Mastek's commitment to harness the benefits of Data, AI and IoT technologies and empower customers in a Connected Economy.

VolteoEdge, in collaboration with Intel and ServiceNow, delivers Edge-as-a-Service or Edge-to-Service (E2S) to its customers across Manufacturing, Oil & Gas, Healthcare, Retail, and Infrastructure industries. The fusion of ServiceNow platforms with Edge Intelligence will forge a comprehensive customer service solution that is self-monitoring in predicting and detecting service breakdowns and thereby initiating a rapid incident response. Through this strategic investment in VolteoEdge, Mastek aims to strengthen its customer service management & field engineering services to a more secure, intelligent, responsive, and connected ecosystem.

The connected enterprise space is projected to grow at a rapid pace and reach USD 200 BN by FY 2024. These integrated services will accelerate Mastek’s ability to penetrate the emerging connected enterprise market and open new revenue streams. With a streamlined integration between Edge Intelligence and ServiceNow platforms, siloed process flows can be unified onto a single platform that enables customers to improve operational efficiency, maximize incident response reaction time, and deliver real-time insights.

Arun Agarwal, Global Chief Financial & Investor Relations Officer, Mastek, said, “Our customers are leveraging the power of Data, AI/ML, and IoT in a secure environment. Our investment and partnership in VolteoEdge through Mastek Ventures is an exciting step to help customers in the data-driven Connected Enterprise space.”

Speaking on the occasion, Ritwik Batabyal, CTO & Innovation Officer added, “This combination of VolteoEdge platform and Mastek’s services brings a unique proposition for enterprises to connect siloed process flows and orchestrate handoffs with intelligence while digitizing engineering service.”

“In today’s environment, enterprises are trying to navigate critical talent gaps and a hybrid/remote working environment while providing stellar services to their end customers in an efficient manner. Balancing these supply and demand vectors is a tall order even for the best of organizations. Volteo and ServiceNow have a proven track record providing compelling, future-proofed solutions for our customers. Our E2S solutions enable enterprises to break down data silos, optimize internal operations and future-proof revenue flows. Mastek’s strategic investment is a testament to our abilities and will enable us to scale our vision of transforming companies into Connected Enterprises. Mastek extends our network and enhances our ability to help customers in multiple industries and geographies,” said Ravi Nannapaneni, Chief Executive Officer, VolteoEdge.

“E2S is a key differentiator for our partners to drive real time results into the services that their customers deliver. By enabling partners to distribute unique solutions with ServiceNow, we are seeing a higher level of activity in the manufacturing, healthcare, and life sciences spaces, which aligns well with Mastek and VolteoEdge’s strategies,” said Tasker Generes, VP Strategy and Transformation, ServiceNow.

About Volteo Edge:

VolteoEdge is an enterprise-ready platform that addresses the challenges of Edge Intelligence. EDGE provides its customers with affordable, reliable, fundamentally transformative solutions to traditional and emerging business problems. Edge Intelligence monitors itself, detecting and predicting failures and initiating the workflows to further streamline its customers’ service management. It puts analytics at the edge, capitalizing on ALL the raw data, and eliminating cloud latencies that many edge solutions cannot tolerate. Having a deep relationship with Service Now and Intel, VolteoEdge attempts to achieve this value by enabling edge-to-service and Edge-as-a-Service (EaaS) capabilities. Volteo’s team of consultants, engineers, and solution architects spans the globe with offices in North America, Latin America, Europe, and Asia. www.volteoedge.com

About Mastek:

Mastek is a turnkey & trusted Digital Engineering & Cloud Transformation partner that is globally known to deliver innovative solutions and business outcomes for clients in Healthcare & Life Sciences, Retail, Manufacturing, Financial Services, Government/Public Sector, etc. It enables customer success and business change programs by partnering with enterprises to unlock the power of data, modernize applications to the cloud, and accelerate digital advantage for all stakeholders. Customers trust Mastek to deliver business value with velocity as it currently operates in 40+ countries including the UK, Americas, Europe, Middle East, and APAC with ~6000 employees. Mastek endeavours to De-complex Digital, and enhance growth for its clients with an industry-first approach. For more details, please visit our

website www.mastek.com

Contacts

Murali Guntu |  murali.guntu@volteo.com

Kashmira Chavan | kashmira.chavan@mastek.com