Jockeying for position in a fast-moving market, machine-to-machine (M2M) provider Axeda Corp. this week acquired competitor Questra Corp., establishing itself as a leading provider of remote after-market services.
Terms of the deal were not disclosed by the private companies. Axeda entered into the acquisition with approximately 70 customers to Questra’s 40, Axeda revealed. The two compete head-to-head in the M2M space, often battling for the same customers against the likes of Qualcomm and Tridium (which Honeywell acquired in 2005).
For Axeda, which is coming off of what Vice President of Marketing Brian Anderson called its best year so far, the Questra acquisition made sense for both companies and for customers.
“Both sides agree we’d be better off as one company focusing our energy on innovating for customers and not just competing with each other,” Anderson told Managing Automation in an interview.