Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering, today announced that it has signed a strategic agreement with Gao Feng Advisory Company, a global management consultancy with roots in China. Both firms will seek to join forces to deliver a unique and comprehensive set of services to their clients in China and worldwide.

It is anticipated that the Internet of Things (IoT) & embedded internet businesses will exceed USD 14.4 trillion in size over the next decade. Connected devices will increase to 6.8 per person by 2020 from 0.08 per person (2003). By that time, there will be 50 billion connected devices in the world and this number will increase as internet usage becomes more prevalent.

Shares of the company declined Rs 8.1, or 1.18%, to trade at Rs 677.70. The total volume of shares traded was 127,082 at the BSE (12.45 p.m., Friday).