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L&T Technology Services wins IoT Platforms Leadership Award 2018

Posted On: 2019-01-09 09:52:49

L&T Technology Services Limited (NSE: LTTS), a leading global pure play engineering services company has been honored with the 2018 IoT Platforms Leadership Award by IoT Evolution Magazine, a U.S. based technology publication. LTTS secured the recognition for their IoT powered Condition Based Monitoring (CBM) Solution 'Integrated MCare' that facilitates predictive maintenance of machines.

Integrated MCare, LTTS' turnkey solution which leverages the Company's IoT platform UBIQWEISE 2.0™ incorporates next-gen technologies like artificial intelligence & IoT that aids manufacturers in making informed decisions in a timely manner. The solution incorporates integrated machine learning algorithms to analyze critical data from industrial machinery used in a variety of sectors. Integrated MCare has been successfully deployed for over a dozen global customers across industries like Automotive, Energy and CPG.

IoT Platforms Leadership Awards have been among the most prestigious recognitions in the communications and technology sector worldwide. Their winners include organizations who consistently demonstrate the advancement of technologies. This award honors enterprises delivering software or hardware solutions which enable smart homes and building industry through mass proliferation of IoT devices, networks and services.

Integrated MCare was evaluated by the members of the jury based on the following parameters:

- Platforms designed specifically for IoT systems solutions
-Platform solutions that can show customers who have earned business success by leveraging the platform
- Deep analytics functions, with a specific focus on machine learning, AI and intelligent analysis proficiencies
- Showing a clear understanding of UX design that is not just for aesthetics and ease of use, but also to help users get access to deep learning from data sets.

Dr. Keshab Panda, Chief Executive Officer & Managing Director, L&T Technology Services said "Integrated MCare is powered by LTTS' homegrown IoT platform UBIQWEISE2.0™. The Condition-Based-Monitoring solution employs machine learning principles in predictive analytics to proactively notify operators about potential machine failure. This award is a testament to the Company's leadership in the Industrial IoT marketplace and our teams' success in offering a comprehensive IoT solution that enables global manufacturers to determine real time asset conditions and make intelligent predictions".

Commenting on LTTS' award win, Ken Briodagh, editorial director for IoT Evolution said, "The solutions selected for this award reflect the innovations driving the fast-growing IoT marketplace. LTTS' Integrated MCare solution hosted on the company's proprietary cloud IoT platform UBIQWEISE™ not only exhibits significant benefits in IoT but also helps the company's global customers rapidly customize and seamlessly & securely deploy their products & services. I am pleased to congratulate L&T Technology Services for their innovative work and contribution to this rapidly evolving industry."

In addition, Rich Tehrani, CEO, TMC, said, "Traditional techniques and solution models are unable to rightly predict equipment health and life. Integrated MCare enables organizations to gain actionable insights in real time and detect machine faults before incident occurrence or major equipment damage with round-the-clock monitoring. LTTS rightly deserves the 2018 IoT Platforms Leadership Award for their best-in-class solution and I look forward to seeing more such innovations from the Company in the future."

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1654 as compared to the previous close of Rs. 1629.05. The total number of shares traded during the day was 5868 in over 903 trades.

The stock hit an intraday high of Rs. 1670 and intraday low of 1621.85. The net turnover during the day was Rs. 9685660.


Source: Equity Bulls

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