CHICAGO, IL. — Xchanging plc, the business process, procurement and technology services provider, announced today it has made a $1 million investment in MachineShop Inc., a Boston-based, next-generation enterprise middleware provider with whom Xchanging has been a partner since January 2013.
The investment is part of Xchanging’s strategy to penetrate the burgeoning Internet of Things (IoT) market further and will support product development, sales and marketing activity.
From evolved devices, into interconnected devices, into intelligent networks – Xchanging’s IoT offering not only makes the connections from machine to machine (M2M) but applies the technology to enable intelligent conversations between people, processes and machines. We deliver end-to-end IoT solutions in multiple industries. For instance in the real estate market, we provide the software applications, network management and analytic requirements to improve building energy efficiency for a leading commercial property and real estate services adviser.
Along with collaborative strategic partnerships, Xchanging brings its own intellectual property to the IoT solutions by delivering robust applications to manage the process of data transfer and analysis as well as cloud storage capabilities. Xchanging’s analytical tools provide insight and control by analyzing the dialogue between devices and making automated recommendations that drive better business outcomes.
“Our long-term partnership with, and now direct investment in, MachineShop represents an important piece of Xchanging’s IoT solutions,” said Andrew Binns, Executive Director, Xchanging. “MachineShop is a unique provider and helps Xchanging bring a differentiated and comprehensive solution to market.”
As a horizontal provider of next-generation enterprise middleware, MachineShop complements Xchanging’s IoT offerings and will enable the company to enter into new industries beyond its four current target areas of real estate, utilities, logistics and automotive. Xchanging’s IoT offerings in those sectors are as follows:
Connected Buildings: Buildings that sense and respond to changing environmental needs, both internal and external, to achieve energy and cost efficiencies;
Connected Utilities: Advanced smart metering, energy and water consumption management solutions that in real-time drive costs down and meet regulatory and market pressures for sustainable compliance;
Connected Logistics: Creating actionable intelligence through supply chain visibility with optimised asset tracking, from manufacturer to store;
Connected Cars: Software and firmware updates over the airwave and pay-as-you-drive usage-based insurance.
Xchanging and MachineShop have been engaged in a partnership for over a year, delivering solutions for customers including Diebold. Alongside Xchanging, Diebold, a global leader in providing innovative self-service technology and security systems, and CSR plc, a pioneering designer and developer of silicon and software for the consumer electronics market, are both making similar investments in MachineShop.
“Our partnership and collaborative customer work with Xchanging has been key to our development,” said Michael Campbell, CEO, MachineShop. “Our respective cultures of innovation and intelligent application of advanced technology fit very well, and we are excited to have cemented our relationship in this way.”