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VERIZON COMMUNICATIONS

(VZ)
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Verizon Communications : announces acquisition of precise positioning company, Senion

06/21/2021 | 12:03pm EDT

Basking Ridge, NJ - Today, Verizon announced the acquisition of Senion, a global leader in location-responsive solutions. The developer of an indoor positioning platform, Senion's advanced machine-learning sensor fusion technology delivers sub-meter accuracy for precise positioning and navigation of indoor spaces.

From indoor wayfinding and geofencing to location sharing, analytics and predictive intelligence, this acquisition expands Verizon's location-based technology offerings, empowering companies to better and more safely manage their spaces.

'Verizon Location Technology is working to build a more efficient and productive world. This involves giving machines sight and providing enterprise leaders with deeper insights, enabling the orchestration of any space,' said Jeff Frantz, Executive Director of Verizon Location Technology. 'Sensor fusion and indoor positioning are foundational components for these next-generation capabilities. Combining Senion's superior technology with the location-accuracy, speed, throughput and reliability of Verizon's 5G platform will help us push the boundaries of what's possible.'

Senion's technology includes their Indoor Positioning System (IPS), a high-powered and robust indoor positioning system. The IPS can help facility leaders, operation managers and other enterprise partners locate and understand the movement of people, machines and IoT-enabled items within any space. Additionally, Senion's smart space solution, combined with analytics and an interactive dashboard, can help companies improve the utilization and productivity of their physical spaces.

Senion's employees have joined the Location Technology team within Verizon New Business Incubation, whose mission is to scale new automation businesses, fueled by the inherent orchestration power of 5G.

'Senion was created with the vision that one day our sensor fusion technology would allow for precise positioning for anyone and anything, at anytime,' said Dr. Christian Lundquist, CEO and Co-Founder of Senion. 'By leveraging Verizon's expertise in connectivity and location technology, we can further our work to improve workflows for companies and create seamless, responsive and location-aware services.'

Disclaimer

Verizon Communications Inc. published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2021 16:02:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 135 B - -
Net income 2021 21 815 M - -
Net Debt 2021 144 B - -
P/E ratio 2021 10,4x
Yield 2021 4,66%
Capitalization 225 B 225 B -
EV / Sales 2021 2,73x
EV / Sales 2022 2,68x
Nbr of Employees 132 200
Free-Float 96,5%
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