Verizon has purchased substantially all of the assets of LQD WiFi LLC., a private company based in New York, in a bid to accelerate its IoT reach.
Terms of the transaction were not disclosed.
LQD WiFi is a developer of Palo unified technology hubs, which are street-smart kiosks, providing information such as wayfinding, public safety announcements, transit updates, and upcoming events to users.
Palo also provides free public wi-fi, security cameras, emergency calling, and area lighting.
“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,” said Mike Lanman, senior vice president, Enterprise Products and Internet of Things at Verizon. “This transaction uniquely positions us to utilize 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 and Verizon are currently designing solutions for municipalities, private developers, academic institutions and entertainment venues, according to Verizon. Verizon also says it sees an opportunity to promote civic innovation and deliver data driven solutions leveraging the open data platforms of cities.
Verizon has developed an array of connected solutions including intelligent parking, lighting, traffic management and security that improve livability, resiliency and public safety for local communities, the company stated.
LQD’s assets will be integrated with the market- leading smart community infrastructure from Sensity Systems, which Verizon acquired last month. Verizon’s Smart Communities organization, which is a part of its IoT business, is also simplifying the creation of IoT applications through its ThingSpace platform, according to the company.