Global IT and telecommunications services provider Orange Business Services and automation company Siemens on Thursday announced a collaboration to deliver Internet of Things (IoT) solutions for the industrial sector.

The solutions would promote IoT innovation to provide customers with new revenue streams, lower costs and improved efficiencies.

"By combining our strengths, we are providing industrial enterprises with new opportunities to exploit their data and unleash the power of IoT to drive significant competitive advantage," Olivier Ondet, Senior Vice President, IoT and Analytics at Orange Business Services, said in a statement.

The alliance is built around Siemens' "MindSphere" -- the Cloud-based open IoT operating system -- and "Datavenue", the Orange IoT and data analytics modular offering.

The partnership would help businesses connect their machines and physical infrastructure to the digital world.

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