San Diego, CA and Basking Ridge, NJ, U.S.A. — (METERING.COM) — July 29, 2009 – A joint venture has been announced between digital wireless communications product provider Qualcomm Incorporated and wireless network operator Verizon Wireless to provide machine-to-machine (M2M) wireless communications and smart services offerings to utilities and other market segments, including healthcare, manufacturing and distribution.
Capitalizing on the growth of M2M and smart services, the joint venture (still to be named), will be well positioned to provide a single source for end-to-end M2M solutions, a statement from the two companies says.
The joint venture will leverage Qualcomm’s advanced connectivity technologies and Verizon Wireless’ expertise and simplified device certification process to deliver seamless, fully integrated M2M communication with global connectivity. Smart grid connectivity will be one area of application, while other key new capabilities will include cloud computing solutions for device provisioning and asset management, and data aggregation services.
“We understand that no single company will be able to provide every aspect of the new M2M ecosystem on its own,” said Anthony Lewis, vice president of open development at Verizon Wireless. “This distinctive partnership with Qualcomm allows us to swiftly build on the strengths of each company’s M2M strategy. The JV’s focus on unlimited innovation will enable the production of next generation products and services that will release the full power and potential of our network for customers.”
The joint venture will be led by M2M industry leader Steve Pazol, who previously served as vice president of Global Smart Services at Qualcomm. Qualcomm has provided a variety of M2M solutions that have added “always-on” mobile connectivity to assets, providing access to network intelligence and benefiting enterprise customers.
“M2M is a rapidly growing market projected by some analysts to reach more than 85 million connections globally by 2012,” Pazol said. “The next five years will be a significant period of innovation in M2M. Qualcomm and Verizon expect to create a company focused in evolving niche aftermarket strategies to embedded product standardization strategies, driving down costs, increasing performance expectations and enabling impactful new business models.”