Verizon Communications Inc. of New York has agreed to acquire Sensity Systems Inc. of Sunnyvale, California. Verizon says that the acquisition will allow it to add to its smart city solutions that use its ThingSpace Internet of Things (IoT) platform. The company intends to use the acquisition to accelerate smart city development to improve sustainability, drive citizen engagement, and save cities money.
Verizon and Sensity have not disclosed the terms of the transaction. The acquisition is subject to customary regulatory approvals and is expected to close in fourth-quarter 2016.
Mike Lanman, senior vice president – Enterprise Products and IoT at Verizon, 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. Verizon is uniquely positioned through its infrastructure investments at the network, platform and application levels to provide holistic solutions that empower communities to address their most pervasive challenges.”
Sensity Chairman and CEO Hugh Martin said, “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 realized 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. With Verizon, we look forward to delivering IoT connected systems on a massive scale to change how cities and communities operate around the world.”
Verizon has developed a wide range of connected and intelligent solutions including parking, traffic management, lighting, and security that it says improve livability and public safety for residents of local communities. The company’s Smart Communities organization, which is a part of its IoT business, is also simplifying the creation of IoT applications through ThingSpace.
When cities convert to using LED lighting, Sensity Systems adds its sensor-based, multiservice IoT platform to help city’s boost energy efficiency, monitor and control lighting systems, analyze lighting usage, and offer other potential IoT-based services such as smart parking and traffic management. Sensity boasts 42 smart city installations around the world supplied through its ecosystem partners that enable facility and municipal lighting owners to link improvements in energy efficiency and cost savings to parking control, public safety, asset management, and analytics.