Bath-based wireless computer company Virtuosys has been acquired by a US smart application firm called Veea.
The financial details of the deal have not been disclosed, but both companies have been collaborating for some time on Internet of Things (IoT) devices, gateways and smart applications.
Virtuosys was founded by execs from Chippenham-based IPWireless, which was acquired by General Dynamics. Veea’s CEO is Allen Salmasi – former board member, CSO and president of Qualcomm
The wireless edge computing platform is made-up of WiFi access points that can operate independently without access to the Internet, which reduces network congestion.
With the VeeaHub platform, businesses have access to smart applications for retail, transportation, buildings, healthcare, cities and more. This tech could be used in the IoT, rail and retail sectors, to undertake tasks such as processing data locally, enabling train staff to detect and predict faults whilst providing better on-board services and building in-store navigation.
AccessFintech secures $17.5m in series A funding
The server also provides 4G data failover services and VPN services, as well as Bluetooth beacon support for applications and general WiFi usages.
As part of the acquisition, Virtuosys will become a wholly owned subsidiary of Veea and will change its name to Veea Systems. Allen Salmasi, CEO of New York based Veea, commented on the news: “Veea is currently in pilot trials of one of the most advanced solutions for smart retail and smart hospitality that enables retailers and hospitality establishments to run their applications dynamically and most efficiently at their retail locations and/or in the Cloud putting the benefits of all forms of commonly used wireless communications, IoT and edge computing into retailers’ hands in an easy, scalable and secure way
“Together, we’re enabling easy integration of smart applications to streamline processes, lower operational costs, collect and leverage insights and build customer engagements in new ways. This acquisition supports our mission to put businesses in a position to comfortably embrace IoT-enabled devices and catapult into the connected future,” he added.
Alan Jones, Virtuosys CEO, concluded: “We are now in a position to bring a fully integrated end-to-end solution to meet the unique requirements of our customers in smart transportation, smart retail, smart building and smart campus verticals in multiple pilot trials of VeeaHub platform either planned or being conducted in the US, the UK, South Korea, France and other countries. We have been working with the Veea team for some time and we’re incredibly excited about the unique market opportunities that our combined resources can offer.”