Robot software firm acquired by Verizon
Verizon has entered into a definitive agreement to acquire incubed IT, the creator of a software platform providing autonomous navigation tools to administer, manage and optimise mixed fleets of robots in industrial settings.
Telco Verizon says the acquisition will expand its robotic capabilities to power the future of robotic automation for enterprise customers.
As Verizon continues to expand its 5G coverage, capacity, and mobile edge compute capabilities, incubed IT’s autonomous software will enable enterprise customers to gain new efficiencies as they scale their autonomous mobile robot fleets.
incubed IT’s software enables robots to navigate autonomously and can be easily integrated into nearly any mobile robot.
“incubed IT’s next-generation software and autonomous fleet management server are foundational components for the future of terrestrial robotics,” said Elise Neel, Vice President of Verizon New Business Incubation. “When we combine incubed IT’s capabilities with the reliability, responsiveness and vast capabilities of Verizon’s 5G platform, we will enable faster, less expensive and more effective adoption of robotic automation for enterprises everywhere.”
incubed IT’s employees will join the Verizon New Business Incubation team, whose mission is to scale new automation businesses, fueled by the inherent orchestration power of 5G. The incubed IT team will continue to drive development, sales and support for its customers and suite of products across an impressive fleet of diversified robotic partners.
"We are proud of all the incubed IT team has accomplished to get us to this point, and we look forward to expanding on our successes and capabilities,” said Stephan Gspandl, incubed IT CEO. “By joining the Verizon team, we have the opportunity to bring our software to broader audiences and to help create the future of robotic automation.”
The transaction is subject to customary closing conditions and is expected to close in the first half of 2021.
