Axeda (News - Alert) Corporation, a leading provider of cloud M2M (machine-to-machine) application platforms, has been named as a 2011 Boston Business Journal Pacesetter. Axeda has been included in the list of the fastest growing private companies in Massachusetts, thanks to its impressive 3-year revenue growth from 2007-2010.

"We're always honored to recognize dynamic, privately held companies through our Pacesetters program," Business Journal Publisher Christopher McIntosh said, in a press release. "But it's a special privilege at a time when these businesses are widely recognized as the engines driving our economic recovery. The success of these companies testifies not just to the vision of their owners and employees but also to the health of our region."

"Axeda's growth through the downturn was fueled by innovation and the bottom line results our technology drives for our customers," said Axeda CEO, Jack Sweeney, in the release. "Inclusion in the 2011 Pacesetters list is great validation of the valuable solutions we deliver to the M2M market and well-deserved recognition of the efforts of our very dedicated team."

With its innovative, effective and economical cloud M2M application platform solutions, Axeda has served more than 150 major organizations including Abbott Diagnostics, Agilent Technologies, Diebold, and EMC (News - Alert). Axeda technology powers M2M solutions for remote service, fleet management, smart grid, usage-based insurance, asset tracking, mHealth, and more.

Axeda recently announced that it will be making its Axeda Platform available for free, eliminating the barriers to developing real-world, wireless machine-to-machine application as well as facilitating the company’s ability to get their solutions to market.

The Axeda Platform being offered will work off a licensing pay-as-you-grow model with free access offered to the first 100 connected products and 10,000 daily transactions. Licensing price beyond 100 products will be assessed and determined by the volume of distribution once it happens. 

Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Jamie Epstein