View, Inc. Acquires IoTium, a Pioneer in Secure Edge-Cloud Infrastructure for Smart Buildings

Rhea-AI Summary

View, Inc. (Nasdaq: VIEW) has acquired IoTium, a leader in secure software-defined IoT networks, to enhance its smart building platform. This acquisition aims to simplify the deployment of smart building applications while improving security and reducing operational costs. IoTium's solution is currently in use across over 800 buildings owned by Fortune 500 clients. The collaboration is expected to accelerate digital transformation in real estate, offering enterprise-grade security with reduced service costs.

Positive

• Acquisition of IoTium enhances View's smart building capabilities.
• IoTium's solutions are already deployed in over 800 buildings, indicating market trust.
• Expected reduction in operational costs by virtually eliminating on-site service visits.
• Partnerships with Fortune 500 clients improve credibility and market reach.

Negative

• None.

MILPITAS, Calif., July 08, 2021 (GLOBE NEWSWIRE) -- View, Inc. (Nasdaq: VIEW) (“View”), the leader in smart building platforms and smart windows, today announced it has acquired IoTium, the leading provider of secure, cloud-managed, software-defined IoT networks. IoTium’s easy-to-deploy solutions enable building owners to quickly achieve enterprise-grade security, reduce operating costs, and gain real-time visibility into their entire real estate portfolios.

“View’s smart building platform makes it easy to securely deploy a wide variety of smart building applications,” said Nitesh Trikha, Chief Product Officer at View. “IoTium’s edge-cloud solution makes the deployment process even easier, especially in existing buildings with legacy networks and systems. It is the most reliable, easiest-to-deploy and most economical solution to implement enterprise-grade security and a converged edge infrastructure in buildings. Incorporating this into View’s smart building platform will accelerate the digital transformation of real estate.”

Real estate owners recognize the need to make their existing buildings secure and smart; however, they face a difficult tradeoff. Upgrading legacy networks to achieve best-in-class security and converged connectivity requires significant upfront investment, while leaving those networks as-is exposes building owners and their tenants to security threats. IoTium solves this dilemma. The company’s secure, edge-cloud solution works with both new and existing operations technology (OT) networks, is easy to deploy and dramatically reduces operational costs by virtually eliminating on-site service visits. IoTium’s solution is currently deployed in over 800 buildings at several Fortune 500 clients.

“Kilroy easily deployed IoTium’s solutions across our entire portfolio,” said Khanh Nguyen, Vice President of IT at Kilroy Realty Corporation. “IoTium provided us with a plug-and-play, highly secure, unified infrastructure for all of our smart building applications, streamlining our day-to-day engineering tasks and reducing network operating costs by 75 percent. We look forward to working with View to make our buildings even smarter, healthier and more energy-efficient.”

“We are thrilled to join View and are excited by View’s mission to reimagine the human experience in buildings, mitigate climate change and make buildings smarter,” said Dhawal Tyagi, co-founder & CEO of IoTium.

About View
View is the leader in smart building platforms and smart windows that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically tint in response to the sun, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to improve indoor cellular coverage, enhance building security and reimagine the occupant experience. View is installed and designed into 75 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences. For more information, please visit: www.view.com. 

About IoTium
IoTium is the leading provider of secure edge-cloud Infrastructure for smart buildings. IoTium’s highly scalable and secure infrastructure is used by Fortune 500 customers to rapidly enable digital transformation across their portfolio. IoTium’s cloud-delivered IoT service allows customers to easily connect their building assets to cloud applications, remotely access these assets and deploy cloud-native applications at the building edge, resulting in significant operational cost reductions. For more information, please visit: www.iotium.io

Contacts:
For Investors:
Samuel Meehan
View, Inc.
Investor Relations
IR@View.com
408-493-1358

For Media:
Treble
Michael Kellner
view@treblepr.com

FAQ

What is the purpose of View's acquisition of IoTium?

The acquisition aims to enhance View's smart building platform by integrating IoTium's secure IoT network solutions to facilitate the deployment of smart applications.

How many buildings currently use IoTium's solutions?

IoTium's solutions are deployed in over 800 buildings, primarily serving Fortune 500 clients.

What financial benefits does View expect from this acquisition?

View expects to reduce operational costs significantly for building owners by minimizing on-site service visits through IoTium's cloud-managed infrastructure.

What impact will the acquisition have on the digital transformation of real estate?

The integration is expected to accelerate the digital transformation of real estate, making buildings smarter and more secure.

What is the stock symbol for View, Inc.?

The stock symbol for View, Inc. is VIEW.