Irvine-based smart technology provider Greenwave Systems has developed a router for Verizon Communications Inc.
The design work for the FiOS Quantum Gateway product represents a burgeoning business opportunity with the New York-based telecommunications giant as Greenwave diversifies revenue in new markets.
“We now have a leading customer in the utility service provider and retail categories,” said Chief Marketing Officer Nate Williams.
Other big customers include Aurora, Ohio-based Technical Consumer Products Inc., which ships about 1.5 billion bulbs annually through big-box retailers and other channels, and German energy provider E.ON SE, which relies on Greenwave’s technology in its smart meters in customers’ homes.
The company has also developed a networking box with El Segundo-based DirecTV.
The Verizon router, available only to U.S. customers, is billed as increasing data speeds, improving connectivity for multiple users, and providing the first home automation, or Internet of Things capability, to allow consumers to interact with their devices remotely.
The last feature is a key differentiator as Verizon grows its FiOS communications network, providing Greenwave a potentially lucrative outlet to license its Internet of Things software.
Verizon added 139,000 FiOS Internet connections in the recently ended quarter and 100,000 FiOS video connections for a total subscriber base of 6.3 million and 5.4 million, respectively.
Williams would not disclose financial information related to the Verizon partnership, which originated about 18 months ago.
IOT Moves
Irvine-based chipmaker Broadcom Corp. has lined up more than 40 channel partners to serve the growing Internet of Things and Ethernet markets to meet demand from thousands of product and component developers.
The global distribution list includes module manufacturers, value-added resellers, independent design houses, original device manufacturers, and e-commerce specialists.
Broadcom aims to leverage the network to build on its base of customers for its WICED Smart and Wi-Fi communication chipsets that allow devices to talk to each other and its Ethernet connectivity offerings.
The company, in conjunction with the channel expansion, said it introduced an online support portal that includes a library of data sheets, application notes, video tutorials, programming, and product guides to foster a collaborative environment to share ideas, solve challenges and advance product development.
Global sales of components and equipment that power the Internet of Things market will explode to $7.1 trillion by 2020, up 273% from last year, according to Massachusetts-based market researcher International Data Corp.
Morgan Stanley estimates that by that time, about 75 billion products, such as washing machines, lighting systems and body health sensors, will be connected to the Internet.
Industry Vet Appointed
Telecom veteran Steven Elfman has been appointed to the board of Aliso Viejo-based Smith Micro Software Inc.
He most recently served as president of network operations and wholesale at Sprint.
Prior senior positions also include stints at AT&T Wireless, GE Capital Fleet Services, and 3M Co.
Elfman serves as a member of the board for Goodman Networks in Plano, Texas, and Acton, Mass.-based Affirmed Networks Inc., both privately held companies.
