Verizon is continuing to cover all of its Internet of Things (IoT) bases with Monday's news that it has bought IoT startup Sensity Systems.
The acquisition, which is slated to close in the fourth quarter of this year, adds an LED lighting element to Verizon's IoT "smart cities" business. Sensity will be integrated into Verizon's "ThingSpace" IoT platform, which launched last year.
Verizon Communications Inc. (NYSE: VZ) paid $2.4 billion in cash for Fleetmatics in August after buying Telogis in June for an undisclosed sum. (See Verizon Buys Big Into IoT With $2.4B Fleetmatics Deal.)
Privately held Sensity, which is based in Sunnyvale, Calif., is helping cities transition to energy-efficient LED lighting -- a process that will affect 4 billion lights worldwide over the next few years -- by creating a high-speed, sensor-based, multiservice IoT platform.
Sensity says its LED platform works by embedding sensors and networking technology in both retrofit and new lighting systems. Sensity counts 42 smart city installations across the globe. In addition to the cost savings, Synsity said its IoT platform and partnerships could aid facility and municipal lighting owners with public safety, parking control, asset management and analytics.
"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," said Mike Lanman, senior vice president of Enterprise Products and IoT at Verizon, in a prepared statement.
The terms of Verizon's deal to buy Sensity weren't released. Prior to the acquisition, Sensity raised a total of $74 million from venture investors.
"Rapid urbanization is putting a huge strain on city services globally, coupled with inefficiencies caused by an aging infrastructure that currently supports critical functions, such as fire and emergency services, public transportation, lighting, sewer and sanitation systems," Sensity Chairman and CEO Hugh Martin said. "Sensity realized early on that IoT could be the key to breaking out of this dilemma."
The IoT portfolios of Verizon and AT&T Inc. (NYSE: T), as well as the build out of the networks themselves, are strong indicators that IoT is transitioning out of the hype phase and into the deployment phase.
— Mike Robuck, Editor, Telco Transformation