Verizon to acquire Sensity Systems for greater smart cities push
American telecom giant Verizon Communications has signed an agreement to acquire California-based Sensity Systems as the company aims to add a suite of comprehensive smart city solutions enabled by its ThingSpace IoT platform.
Sensity Systems taps LED lighting conversions to create a sensor-based, high-speed multiservice IoT platform. It currently has 42 smart city installations worldwide, supplied through its ecosystem partners. These installations enable municipal and facility lighting owners to link their cost savings and energy efficiency to business goal improvements, such as parking control, public safety, analytics and asset management.
Verizon, meanwhile, has already developed various connected-intelligent community solutions such as security, traffic management, lighting and parking. Its Smart Communities organisation is part of its larger IoT business, and the company is also utilising the ThingSpace platform to simplify IoT application development. Frequent partnerships are in place, including most recently with Qualcomm on ThingSpace.
Hugh Martin, CEO and chairman of Sensity, said: "Rapid urbanisation is putting a huge strain on city services globally, coupled with inefficiencies caused by an ageing infrastructure that currently supports critical functions, such as fire and emergency services, public transportation, lighting, sewer and sanitation systems.
"Sensity realised early on that IoT could be the key to breaking out of this dilemma. We have become the leader in the space by creating a visionary smart city IoT platform and forming a powerful ecosystem of technology partners,” Martin added.
“With Verizon, we look forward to delivering IoT connected systems on a massive scale to change how cities and communities operate around the world."
The acquisition is expected to close in the final quarter of 2016. Financial terms of the deal were not disclosed.
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