NEW YORK, Feb. 16, 2017 /PRNewswire/ -- Building on
its strategy to drive innovation and adoption for IoT services in
high-growth markets, Verizon today announced that it has purchased
Skyward, a private company based in Portland, Oregon. Skyward brings drone
operations management to the Verizon IoT portfolio, simplifying
drone operations and management for organizations of any size.
Terms of the transaction have not been disclosed.
Internationally, companies rely on Skyward for managing
operations, improving safety and lowering operating costs. Through
this acquisition, businesses small and large will now have a single
source for integrating, managing and wirelessly connecting their
drone operations – linking all the people, projects and equipment
involved into one clear and efficient workflow.
Mike Lanman, senior vice
president - Enterprise Products and IoT at Verizon, said: "Last
quarter we announced our strategy to drive innovation and
widespread adoption for in-flight wireless connectivity through our
Airborne LTE Operations (ALO) initiative, a new service to simplify
certification and connectivity of wireless drones. This acquisition
is a natural progression of our core focus on operating in
innovative, high-growth markets, leveraging our network, scale,
fleet management, device management, data analytics and security
enablement capabilities and services to simplify the drone industry
and help support the adoption of IoT."
Skyward founder and CEO Jonathan
Evans said: "Drones are becoming an essential tool for
improving business processes at large companies, but scalability
has been a challenge. Skyward's drone operations management
platform combined with Verizon's network, reliability, scale and
expertise in delivering enterprise solutions will allow
organizations to efficiently and safely scale drones across
multiple divisions and hundreds of use cases."
Thanks to advances in technology and regulations, organizations
are looking at drones to help run their business. From agriculture
to telecommunications and from industrial construction to film
production, major corporations, small businesses, and individuals
are using drones to save time, improve safety, and operate more
efficiently. The value is clear, but scaling and managing a drone
program can be complex.
With Skyward's technology, Verizon will streamline the
management of drone operations through one platform designed to
handle end-to-end activities such as mission planning, complex
workflow, FAA compliance support, supplying information about
restricted airspace and pilot credentialing, drone registration and
provisioning rate plans for drones on Verizon's network. All of
this is designed to help developers and businesses create and
manage a wide-range of services backed by Verizon's mobile private
network, secure cloud interconnect and data analytics
capabilities.
Through investments and strategic business and industry
partnerships, Verizon continues to drive innovation via its Verizon
Labs technology organization and Verizon Ventures, the company's
venture capital division. Verizon Ventures brought Skyward in
as a portfolio company and was the first wireless service provider
to become a member of the Small UAV Coalition (SUAVC). The
acquisition of Skyward speaks to Verizon's strategy to operate in
innovative, high growth markets leveraging core assets to help
accelerate IoT adoption. In 2016, revenue from Verizon's internet
of things business approached $1
billion.
In connection with the transaction, GCA Advisors LLC acted as
financial advisor to Skyward, and Perkins Coie LLP acted as legal
advisor.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in
New York City, has a diverse
workforce of 160,900 and generated nearly $126 billion in 2016 revenues. Verizon operates
America's most reliable wireless network, with 114.2 million retail
connections nationwide. The company also provides communications
and entertainment services over mobile broadband and the nation's
premier all-fiber network, and delivers integrated business
solutions to customers worldwide.
About Skyward
Skyward is the leading operations
management solution for commercial drone businesses. Skyward helps
companies save time and scale faster by connecting all of the
people projects and equipment in a drone program, into one
efficient workflow. Headquartered in Portland, Oregon, the company was founded by
career pilots and computer science experts with a mission to ensure
that the standards of safety and professionalism are carried into
this new era of aviation. For more on Skyward, visit
www.skyward.io
VERIZON'S ONLINE NEWS CENTER: News releases, feature stories,
executive biographies and media contacts are available at Verizon's
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Media Contacts:
Adria Tomaszewski
Verizon
908.559.4880
adria.tomaszewski@verizon.com
Jessica Moody
Skyward
907.602.3313
news@skyward.io
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SOURCE Verizon