The company announced a strategic partnership to collaborate on the development and launch of cutting-edge platforms for both in-vehicle systems (navigation, digital cockpit and 5G telematics) and off-vehicle cloud and digital services leveraging emerging technologies for the automotive industry.

Sasken and Joynext will leverage their complementary expertise, global presence, and strong ecosystems to deliver innovative and integrated solutions to the automotive industry.

The aim of the partnership between Sasken and Joynext is not only to push the boundaries of product innovation, but also to ensure that products reach the market more efficiently, equipped with the latest technology and tailored to meet the ever-changing demands of consumers.

Abhijit Kabra, CEO, Sasken Technologies, said, “We are excited to collaborate with JOYNEXT, as their automotive industry expertise aligns perfectly with Sasken's ambition to maintain a leadership position in the global automotive market, By leveraging our respective strengths, we can provide unique value to our customers and accelerate technological advancements in the automotive industry.'

Stavros Mitrakis, CEO of Joynext, said, “By leveraging Sasken's strong hardware and software capabilities and our extensive automotive domain knowledge, we will be able to develop solutions that not only address today's challenges, but also anticipate the needs of the future. We are confident that this partnership will enhance our product offering and enable us to deliver more innovative, safer, and more enjoyable driving experiences to our customers.”

Sasken Technologies is a specialist in product engineering and digital transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in semiconductor, automotive, industrials, consumer electronics, enterprise devices, satcom, telecom, and transportation industries.

The consolidated net profit declined 43.2% to Rs 17.75 crore in Q3 FY24 as compared with Rs 31.25 crore in Q3 FY23. Revenue from operations fell 21.4% YoY to Rs 96.44 crore in Q3 FY24.