The partnership is expected to help expand its business operations and improve its presence in the country.
The crypto currency had till now, never crossed the $3,000 mark, making this a record hike in its value.
The studio will help the firm develop its offerings in financial services, retail, and telco, in Europe and West Asia.
The hub, set up in Bangalore, will help organisations adapt to and utilise the advanced technologies.
The technology was something that IBM Research and Sony Storage Solutions had been working on for years.
The move is intended to help it meet the ever growing demand for enterprise mobility management solutions in the country.
However, the deal still needs approval from Snapdeal’s shareholders.
The organisation has been working aggressively on quickening up the Indian economy’s digitalisation journey.
The company entered the country’s industry last year with a number of extremely well received smartphones.