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Verizon acquires LQD Wifi to expand IoT Strategy into Smart Cities

We are proud of our client, LQD Wifi, for their announcement this week that Verizon has purchased substantially all of its assets. Terms of the transaction have not been disclosed.

 

LQD WiFi provides Palo unified technology hubs, which are street-smart kiosks, providing essential information like local community information, wayfinding, public safety announcements, transit updates, and upcoming events to citizens on the street. Palo also provides free public wi-fi, security cameras, emergency calling, and area lighting which further add value to communities. The company's mission is to enable more connected, better informed and safer communities. LQD's technology encourages people to interact with their community and with each other, governments to connect with their constituents and neighborhood businesses and economies to thrive by fostering local innovation and opportunity.

Mike Lanman, senior vice president, Enterprise Products and Internet of Things at Verizon, said: "LQD's Palo technology hubs capture Verizon's vision of delivering citizen engagement experiences by connecting people with their communities while providing critical security, transportation and wayfinding solutions as well as Wi-Fi capabilities. This transaction uniquely positions us to utilize our unmatched infrastructure, platforms and network at scale to deploy elegant and engaging community technology hubs that connect, inform, inspire and support people where they live, work and play."

LQD Founder and CEO Randy Ramusack said: "We designed Palo, from day one, to be part of the community, offering Wi-Fi, public safety features and a unique, interactive community engagement platform. Palo's human-scale touch screen lets users explore and connect with the local community creating multiple ways to engage, through an innovative, purposeful and curated experience."

"LQD is thrilled to join Verizon to redefine the urban space. As a world leader in wireless technology and smart communities, Verizon's expertise, global scale, and leading media platforms will enable us to deliver on our mission to provide an unbounded flow of information to all people. By bringing Palo to the streets, we're connecting cities to their citizens, citizens to their neighborhoods, and enhancing communities across the country," Ramusack continued.

Next-generation urban technology is becoming increasingly important as citizen's expectations for smart city infrastructure increases. With LQD's technology, Verizon aims to address key community needs such as fostering economic development, bridging the digital divide, facilitating transportation and traffic management and enhancing personal security and urban planning. LQD and Verizon are currently designing solutions for municipalities, private developers, academic institutions and entertainment venues. Verizon also sees opportunity to promote civic innovation and deliver data driven solutions leveraging the open data platforms of cities. These solutions will help communities better inform and engage with their constituents.

New Rochelle Mayor Noam Bramson said: "We want New Rochelle to be an ideal place to live and work. We recognize that a healthy future depends increasingly on robust digital infrastructure, based on cutting-edge technology that can connect residents and businesses alike in a friendly, accessible way. Our partnership with LQD will accomplish all of these goals."

For more on the acquisition:

Verizon buys LQD WiFi to expand its IoT strategy into “smart cities”
Verizon Acquires Space Age Wi-Fi Kiosk Maker LQD
Verizon buys LQD WiFi, a company that builds urban smart hubs
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