Verizon is making moves when it comes to expanding its IoT strategy. The telecom powerhouse recently purchased the Portland, Ore.-based drone management company, Skyward, a firm that helps companies wirelessly connect by managing commercial drone operations.
Verizon’s newly minted Airborne LTE Operations strategy will help companies with the adoption of in-flight wireless connectivity. This is only one way in which the company has been growing their IoT business. Through a series of acquisitions, Verizon has considerably expanded its presence in the IoT space.
The carrier also purchased LQD WiFi, a developer of outdoor interactive displays and kiosks for smart city use cases, as well as smart LED lighting provider Sensity Systems. Both of these deals closed in the fall of 2016. Revenue from the Verizon’s IoT business reached nearly $1 billion in 2016.
With IoT on the rise, the financial benefits of these acquisitions could be huge, if enterprises and partners can turn these high-flying ideas into practical, profitable services.