"With this investment, we will strengthen our position in the growing IoT market globally, especially in India, and increase wireless laboratory capacities over the next three years," said the Indian arm of the company in a statement here.
TUV operates laboratories for wireless communication technology and IoT products in Europe, the US, Japan, China, South Korea, Taiwan and India.
"We have expanded our capacity in wireless strategy by acquiring wireless laboratory at Lund in Sweden and by opening a lab at Silicon Valley in the US," said TUV vice president Stefan Kischka in the statement.
The company aims to be the one-stop-shop service provider for wireless communication technologies, and plans to expand its wireless/IoT team by 220 staff by 2020, it said.
The company is also known for short-range wireless, i.e., WiFi, bluetooth for smart home applications, etc.
The 145-year-old firm employs nearly 19,700 people worldwide and posted 1.9 billion Euros (Rs 15,100 crore) annual revenue in 2017.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
