Verizon acquires LQD WiFi to “redefine the urban space”
Verizon has acquired New York-based private firm LQD WiFi for an undisclosed amount.
LQD WiFi provides street-smart kiosks, called Palo unified technology hubs, which provide essential information like local community information, wayfinding, public safety announcements, transit updates, and upcoming events to citizens on the street. Palo also provides free public wi-fi, security cameras, emergency calling, and area lighting which further add value to communities.
Verizon will leverage LQD’s technology to address key community needs such as fostering economic development, bridging the digital divide, facilitating transportation and traffic management and enhancing personal security and urban planning. At present, both the companies are designing solutions for municipalities, private developers, academic institutions and entertainment venues.
Mike Lanman, senior vice president of enterprise products and Internet of Things at Verizon, said: "LQD's Palo technology hubs capture Verizon's vision of delivering citizen engagement experiences by connecting people with their communities while providing critical security, transportation and wayfinding solutions as well as Wi-Fi capabilities. This transaction uniquely positions us to utilise our unmatched infrastructure, platforms and network at scale to deploy elegant and engaging community technology hubs that connect, inform, inspire and support people where they live, work and play."
LQD founder and CEO, Randy Ramusack, said: "We designed Palo, from day one, to be part of the community, offering Wi-Fi, public safety features and a unique, interactive community engagement platform. Palo's human-scale touchscreen lets users explore and connect with the local community creating multiple ways to engage, through an innovative, purposeful and curated experience."
Verizon also envisions an opportunity to promote civic innovation and deliver data driven solutions using the open data platforms of cities.
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