Verizon Communications Inc. has acquired smart lighting startup Sensity Systems Inc. for an undisclosed sum.
Founded in 2010, Sensity offers a high-speed, sensor-based, multiservice, open networking platform known as a Light Sensory Network (LSN) that is designed to help lighting owners improve lighting control and energy efficiency, as well as delivering business processes that go well beyond lighting.
The company’s platform embeds networking technology in both new and retrofitted LED lighting systems that can not only improve energy efficiency and cost savings, but can assist in services including public safety, parking control, asset management, and retail analytics through the platform’s ability to support sensors, cameras, and thermometers.
Sensity has currently rolled out 42 smart city installations across the globe working with partners including Cisco Systems Inc., Qualcomm Inc., Panasonic and others; the company’s clients include Fortune 500 businesses, commercial and industrial property owners, retail facilities, municipal and regional agencies, universities, school districts, hospitals, transportation authorities, warehousing and distribution facilities, and horticulture operations.
Verizon plans to add Sensity to its ThingSpace Internet of Things (IoT) business, a platform it launched in 2015 that serves as a place for developers to create apps, for end users to better manage their devices, and for partners to market their services; in particular Sensity will operate alongside Verizon’s Smart Communities organization that currently offers connected-intelligent solutions the covering parking, lighting, traffic management and security.
“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 Vice president – Enterprise Products and IoT Mike Lanman said in a statement. “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.”
The acquisition of Sensity can best be described as a smart buy by Verizon as the Sunnyvale-based startup not only provides a strong foot in the door to smart commercial lighting but is also a highly complimentary fit to Verizon’s quickly growing IoT business.
Prior to acquisition, Sensify had raised $74 million over three rounds from investors including, Acuity Brands, Almaz, Cisco Investments, GE Ventures, Mohr Davidow Ventures, Jonathan Feiber, Simon Venture Group, and Trinity Capital Investment.
The deal is expected to close in the fourth quarter.
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