Testing firm TUV to invest Rs 320 cr in wireless technology

Bengaluru Feb 26 (IANS) Leading German testing services provider TUV Rheinland on Monday said it would invest 40 million Euros (Rs 320 crore) in wireless area to develop its facilities for future technologies like e-call and narrowband Internet of Things (NB-IoT) over next three years.

"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.

--IANS
bha/nir