VZ seems to be highly focused in strengthening its footprint in the Internet of Things (IoT) space.
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Verizon’s Senior Vice President, Enterprise Products and IoT, Mike Lanman said: “Sensity is a leading provider of IoT solutions for smart communities with a strong ecosystem of partners, and this transaction will accelerate the deployment of large-scale implementations that will drive the digital transformation of cities, universities and venues”. This smart IoT platform can include the use of sensors placed on a streetlight pole for monitoring city services such as public safety and parking, as well as monitoring weather.
The buyout is expected to close by the fourth quarter of 2016, subject to regulatory approvals and customary closing conditions.
Sensity Systems, based in Sunnyvale, CA, has created a system in which LED lighting systems can be controlled remotely.
The deal will see Sensity’s LED lighting conversion products added to Verizon’s ThingSpace Internet of Things (IoT) platform in order to continue Verizon’s push into the smart city. Sensity now has 42 smart city installations across the globe supplied through its ecosystem partners that have enabled facility and municipal lighting owners to link energy efficiency and cost savings to the improvement of business goals such as public safety, parking control, asset management and analytics.The World Economic Forum, which identifies the world’s most innovative companies, has recognized Sensity as a Technology Pioneer. The terms of the deal have not been disclosed by either of the companies but the agreement between both is said, will see the formation of a comprehensive suite of smart city solutions. Further, Verizon aims to replace ordinary lights with smart lights full of sensors through this buyout. The hard part in deploying Sensity’s technology is surely the deployment of the network, and combining it with Verizon’s wireless and fiber networks makes a whole lot of sense on paper. And last week at CTIA, the carrier announced it will be the exclusive carrier of the new connected bicycle LeEco Super Bike; is working with PrecisionKing on agricultural IoT solutions and Arrow Electronics on industrial IoT applications; and has partnered with Qualcomm to test drones on its 4G LTE network.
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Verizon now has a Zacks Rank #3 (Hold). The carrier bought Telogis in June and Fleetmatics in August. Today, you can download 7 Best Stocks for the Next 30 Days.
