Verizon enters into agreement to acquire autonomous mobile robot software company, incubed ITSource: OMX
BASKING RIDGE, N.J., Feb. 15, 2021 (GLOBE NEWSWIRE) -- Today, Verizon announced it has entered into a definitive agreement to acquire incubed IT, the creator of a software platform providing autonomous navigation tools to administer, manage and optimize mixed fleets of robots in industrial settings.
“This acquisition further demonstrates Verizon’s commitment to developing new and innovative businesses and use cases leveraging the power of 5G,” said Rima Qureshi, Chief Strategy Officer at Verizon. “Mobile robot orchestration is a real and emerging challenge faced by enterprises today. By integrating incubed IT’s autonomous software with Verizon’s 5G platform, we will have the ability to power robotic automation at scale. This will create new opportunities for enterprise customers to better and more effectively monitor and optimize their business processes.”
Upon closing and as Verizon continues to expand its 5G coverage, capacity, and mobile edge compute capabilities, incubed IT’s autonomous software will enable enterprise customers to gain new efficiencies as they scale their autonomous mobile robot fleets.
incubed IT’s award-winning software enables robots to localize and navigate autonomously and can be easily integrated into nearly any mobile robot. Their products include:
- Smart Shuttle Navigation Toolkit: Transmits near real-time data to navigate autonomous mobile robots (AMRs)
- Fleet Management Server: Manages AMR Fleet & Routing Operations
- Data Monitoring & Analytics: Near real-time monitoring and advanced reporting
“incubed IT’s next-generation software and autonomous fleet management server are foundational components for the future of terrestrial robotics,” said Elise Neel, Vice President of Verizon New Business Incubation. “When we combine incubed IT’s capabilities with the reliability, responsiveness and vast capabilities of Verizon’s 5G platform, we will enable faster, less expensive and more effective adoption of robotic automation for enterprises everywhere.”
incubed IT’s employees will join the Verizon New Business Incubation team, whose mission is to scale new automation businesses, fueled by the inherent orchestration power of 5G. The incubed IT team will continue to drive development, sales and support for its customers and suite of products across an impressive fleet of diversified robotic partners.
"We are proud of all the incubed IT team has accomplished to get us to this point, and we look forward to expanding on our successes and capabilities,” said Stephan Gspandl, incubed IT CEO. “By joining the Verizon team, we have the opportunity to bring our software to broader audiences and to help create the future of robotic automation.”
The transaction is subject to customary closing conditions and is expected to close in the first half of 2021.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
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