Bath-based Virtuosys acquired by Veea Inc

Combined resources to provide unique opportunities
14th June 2018

Bath-based Smart-network solutions provider Virtuosys have been acquired by Veea Inc., a global leader in smart applications. Following the closing, Virtuosys will become a wholly owned subsidiary of Veea and will change its name to Veea Systems Ltd. (“Veea Systems”).

The companies had been long-time collaborators on Internet of Things (IoT) devices, gateways and smart applications that are seeing widespread adoption in consumer and business environments, and are now set to forge on together.

Alan Jones, CEO at Virtuosys said, “We have been working with the Veea team for some time and we’re incredibly excited about the unique market opportunities that our combined resources can offer to a growing number of industries that are recognizing the limitations of the Cloud and are increasingly looking to the promise of edge computing,”

Virtuosys’ Managed Edge Application Platform incorporates an intelligent edge server that delivers cloud capabilities out to the edge, changing the economics and efficiencies of edge computing for a wide range of vertical markets. This acquisition provides for a groundbreaking platform that intelligently connects everyone and everything, that is IoT-enabled, while making it possible for commercial and social connections to become contextual and relevant more efficiently.

“We are now in a position to bring a fully integrated end-to-end solution to meet the unique requirements of our customers in Smart Transportation, Smart Retail, Smart Building and Smart Campus verticals in multiple pilot trials of VeeaHub platform either planned or being conducted in the US, the UK, South Korea, France and other countries,” continued Jones.

Virtuosys has already become established in the Smart Rail market, as it was selected by the UK’s Department for Transport for a rail innovation project. Along with Angel Trains, it is demonstrating the power of edge computing solutions by providing improved onboard services while enabling IoT technologies that deliver new capabilities and applications for passengers, rail staff and the operators.

Allen Salmasi, CEO of Veea, said “Veea is currently in pilot trials of one of the most advanced solutions for Smart Retail and Smart Hospitality that enables retailers and hospitality establishments to run their applications dynamically and most efficiently at their retail locations and/or in the Cloud putting the benefits of all forms of commonly used wireless communications, IoT and edge computing into retailers’ hands in an easy, scalable and secure way,”

“Together, we’re enabling easy integration of smart applications to streamline processes, lower operational costs, collect and leverage insights and build customer engagements in new ways. This acquisition supports our mission to put businesses in a position to comfortably embrace IoT-enabled devices and catapult into the connected future.”