SINGAPORE, Sept. 21, 2016 /PRNewswire/ -- Greenwave Systems, the global Internet of Things (IoT) software and managed services platform leader, today announced that it has acquired Predixion Software, a leading developer of real-time visual edge analytics software for the Internet of Things, for an undisclosed amount. The acquisition will enhance Greenwave's AXON Platform® with advanced visual analytics, enabling real-time data insights across one of the world's largest connected networks. The purchase will also add top industry talent to the Greenwave team and accelerate customer development in IoT, M2M, network management and media delivery for IPTV and linear TV.
Through collaboration with a host of impressive partners, Greenwave's technology is integrated into numerous advanced networks and connected devices in what comprises the largest cumulative IoT deployment in the world. Adding Predixion's RIOT™ product, a fully self-contained edge analytics engine, to the AXON™ software suite, provides customers with an unprecedented opportunity to capture, analyze and act on real-time data insights. By embedding advanced analytics capabilities, AXON delivers a more intelligent IoT experience to customers and delivers deeper insights into network management and performance.
"We are thrilled to add Predixion Software to our team," said Martin Manniche, founder and CEO at Greenwave Systems. "With this acquisition we welcome some of the industry's strongest data scientists, engineers and top talent to our company, including Simon Arkell, Predixion's co-founder and CEO, who will assume the role of GM of Software Plaforms for Analytics. The Predixion RIOT software is a natural addition to our product line because it's designed for an end-to-end solution, scalabe in the cloud, and optimized for embedded devices that sit on fixed-line or mobile networks. Integrating RIOT software into our AXON Platform will enable our customers to extract value from nearly 8 million households and 4 million mobile devices deployed with AXON software."
The IoT space is rapidly expanding as networking technology advances, connected devices proliferate and leading service providers across multiple verticals join the race. With the AXON Platform, Greenwave has secured its leading role as the industry's frontrunner by enabling bold new connected services with partners like Verizon, Frontier Communications, IBM and E.ON, amongst others. Through these partnerships, Greenwave technology is now represented in IoT and M2M products spanning global telecommunications, utilities, broadband media delivery solutions and more.
"Joining the Greenwave team will extend our analytics technology to a remarkable range of managed networks," said Simon Arkell. "We can touch IoT, M2M, video and broadband networks and bring tremendous value to our current list of customers and partners, including Intel, Wind River®, Accenture and GE. We are excited to join the team and we look forward to what we'll accomplish together. Greenwave's acquisition of Predixion will provide more financial horsepower to what Predixion has already developed and will enable us to accelerate growth and take the technology global."
"Real-time analytics are invaluable to companies with IoT deployments as they provide critical insights into network devices at any given time. For example, with advanced analytics monitoring and reporting on devices across the network in real time, companies can fix maintenance issues before they cause bigger problems or shift resources to offload an overworked device," said Jim Douglas, president of Wind River, a Predixion Software partner. "We are excited to continue our work with Greenwave and develop next generation analytics solutions for IoT."
This acquisition further affirms Greenwave's leadership in accelerating the connected technology space and marks a momentous year for the company, which includes record sales, a headcount of over 280 employees worldwide and other key milestone wins. The company has entered a new phase of development and will continue to use acquisitions as a key means to accelerate its growth.
About Greenwave Systems
Greenwave Systems is a global Internet of Things (IoT) software and services company dedicated to empowering market-leading brands to profitably deploy their own managed services and products, foster deeper customer relationships and grow their businesses. Mobile carriers, telecommunications operators, semiconductor manufacturers, utilities and all manner of service providers use the Greenwave AXON Platform to safely integrate data and communications from a variety of existing and emerging digital protocols and swiftly create vanguard IoT and M2M services via managed networks with real-time analytics. Learn more about Greenwave at www.greenwavesystems.com. Connect with us on LinkedIn here and follow us on Twitter at @GreenwaveSys.
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