Tech Mahindra Expands Relationship with Covisint to Utilize Covisint's IoT Platform to Create Vertical Solutions
20.4.2017 22:09 | NASDAQ OMX
Global Partnership Drives Digital Business Transformation by Securely Connecting Complete Ecosystems of People, Systems and Things
DETROIT, April 20, 2017 (GLOBE NEWSWIRE) -- Covisint Corporation (Nasdaq:COVS) and Tech Mahindra, a leader in digital transformation for the Telecommunications and Manufacturing industries, today announced that Tech Mahindra will be using the Covisint IoT Platform to enable digital transformation solutions across a variety of IoT initiatives - including smart cities, and the telecommunications and automotive markets.
Through this partnership, there will be a focused solution building and joint go-to-market efforts around:
Smart Cities - Diverse technologies need to be integrated to connect smart city ecosystems and realize the full potential of large-scale smart city initiatives. Tech Mahindra is an early innovator in this evolving market.
Telecommunications - The vast ecosystem around telco providers brings upon many disparate technology stacks - that need to act as one to help realize the full benefits of connected initiatives. Solutions that result from the new expansion of the Tech Mahindra and Covisint relationship will be aimed squarely at solving this problem.
Automotive - Both Tech Mahindra and Covisint have a long heritage in the Automotive space. The two companies will be creating solutions that will focus on the Connected Vehicle and Supply Chain markets.
"We are excited to be a part of this initiative and we are confident that this collaboration will provide us a distinct edge with alliances and customers. Leveraging Covisint's cloud-based platform and Tech Mahindra's expertise in IoT and digital transformation opens up promising vistas for us," said Karthikeyan Natarajan, Global Head, Engineering, IoT and Enterprise Mobility at Tech Mahindra.
The Covisint IoT Platform - delivered as a platform-as-a-service (PaaS) at scale with global support - offers a complete set of capabilities required to rapidly build enterprise IoT solutions, including advanced identity, authentication, authorization, real-time messaging and orchestration, as well as digital ecosystem definition and management capabilities to facilitate secure information sharing and trusted interactions with the world around that connected asset. Covisint's IoT Platform brings together a set of foundational capabilities that helps businesses rapidly deliver IoT solutions supportive of digital transformation, including:
A unified data model that brings together the devices, the systems and the people that interact with into one coherent logical data store.
Dynamic security that helps businesses respond quickly and contextually to deliver better value, while minimizing security risk.
Unified messaging that brings together messaging and orchestration in both real-time and batch interactions to effectively digitize end-to-end business processes.
API-first approach for enabling agnostic and loosely coupled business service integration for complex transformations.
A microservices architecture to meet the scalability demands of billions of connected devices and digital businesses.
"We couldn't be more excited about what we can achieve together with Tech Mahindra, as our partnership has already produced great benefits for both companies," said Joel Kremke, SVP of Partnerships and Alliances, Covisint. "We believe the expanded alliance can be one of the largest in the IoT market, and will provide both organizations a whole new path to creating value for the market and for both of our customers. Tech Mahindra are not only market leaders but are also thought leaders in all of the verticals that we're pursuing with them - it's an honor to be working with them."
About Covisint Corporation
Covisint is the connected company - we securely connect ecosystems of people, systems and things to enable new service offerings, optimize operations, develop new business models and ultimately enable the connected economy. Today, we support more than 2,000 organizations and connect to more than 212,000 business partners and customers worldwide. Learn more at www.covisint.com.
About Tech Mahindra
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise(TM). We are a USD 4.2 billion company with 117,000+ professionals across 90 countries, helping over 837 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).
We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.
Connect with us on www.techmahindra.com
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding Covisint's present and future technology design, architecture, performance and operations which affects the Covisint IoT Platform's market growth and the demand for Covisint's solutions. Any forward-looking statements contained in this press release are based upon Covisint's historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Covisint's expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Covisint disclaims any obligation to update the forward-looking statements in the future except as may otherwise be required by the federal securities laws. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our ability to work with Tech Mahindra to attract new customers; the continued growth of the market for these solutions; competition from current competitors and new market entrants; unpredictable macro-economic conditions; the loss of any of our key employees; and the length of the sales for our solutions. Further information on potential factors that could affect actual results is included in Covisint's reports filed with the SEC.
Investor Relations Contact
Brad Schechter, Vice President, Corporate Marketing
Shalini Singh, Global Media Relations & PR
Covisint Corporation, 26533 Evergreen Road, Suite 500, Southfield, MI 48076, 800-229-4125
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Covisint Corporation via Globenewswire
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