Verizon announces acquisition of precise positioning company, Senion

Rhea-AI Summary

Verizon announced the acquisition of Senion, a leader in location-responsive solutions, on June 21, 2021. This strategic move enhances Verizon’s location technology offerings, particularly in indoor positioning and navigation. Senion’s advanced machine-learning sensor fusion technology provides sub-meter accuracy, improving indoor wayfinding and analytics.

The acquisition is expected to leverage Verizon’s 5G capabilities, enhancing the integration of sensor fusion technology with location services and streamlining workflows for enterprises.

Positive

• Acquisition of Senion enhances Verizon's location technology offerings.
• Senion's machine-learning technology provides sub-meter accuracy for indoor positioning.
• Integration with Verizon's 5G infrastructure expected to boost service capabilities.
• Improved indoor wayfinding and analytics for enterprise clients.

Negative

• None.

BASKING RIDGE, N.J., June 21, 2021 (GLOBE NEWSWIRE) -- 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.”

About Verizon
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.

About Senion
Senion is a global leader in indoor positioning solutions, bringing a seamless, responsive, and consumer-friendly foundation for location-based services applications. Senion comprehensive IPS services include analytics, wayfinding, geofencing, friend finder and tracking. With more than 300 IPS installations globally, Senion has worked closely with shopping malls, hospitals, corporate campuses and more to improve workflows. Senion is headquartered in Linkoping, Sweden, and San Francisco. Find us on the web at www.senion.com.

Media contacts:
Erica Dilk
Erica.Dilk@verizon.com
720.483.4341

Kimberly Ancin
Kimberly.Ancin@verizon.com

FAQ

What is the significance of Verizon's acquisition of Senion?

The acquisition enhances Verizon's location technology offerings and integrates advanced indoor positioning capabilities.

How does Senion's technology benefit Verizon's services?

Senion’s sensor fusion technology provides sub-meter accuracy, which improves indoor navigation and analytics.

When was Senion acquired by Verizon?

Senion was acquired by Verizon on June 21, 2021.

What market does Senion operate in?

Senion operates in the indoor positioning solutions market, focusing on location-responsive technology.

How will this acquisition impact Verizon's business?

The acquisition is expected to expand Verizon’s market offerings and improve operational efficiency for enterprise clients.