Proving the Business Case for the Internet of Things

Silver Spring bolsters smart-energy portfolio with Streetlight.Vision takeover

Iain Morris
May 13, 2014
 
Smart-grid technology player Silver Spring Networks has announced its takeover of Streetlight.Vision, whose software is being used to support the deployment of energy-efficient smart street lighting in a number of Asian and European cities.

Financial terms of the deal were not disclosed, but Silver Spring Networks said the acquisition would help it to improve its own networked street light solution and expand its geographical reach.

The company also plans to develop additional smart-city solutions based on Streetlight.Vision’s (Paris, France) technology expertise.

“The Streetlight.Vision team has developed a world-class smart-city technology platform,” said Scott Lang, the chairman, president and chief executive of Silver Spring Networks (Redwood City, CA, USA). “Streetlight.Vision’s successful track record serving a global client base also positions Silver Spring well to expand its footprint into new geographies and markets.”

Streetlight.Vision reckons that cities’ management and operation of critical infrastructure – using Internet of Things technologies – will become increasingly important to economic competitiveness in future.

“We are thrilled to join an industry leader like Silver Spring,” said Christophe Orceau, Streetlight.Vision’s general manager. “Their proven ability to deliver and operate large-scale networks for cities and energy providers around the world makes them an ideal company to scale our technology to the next level.”

Silver Spring Networks and Streetlight.Vision have previously collaborated on a smart city project in Paris, where they have successfully demonstrated a networked street lights solution, while Silver Spring Networks is at work on connecting street lights in Copenhagen and Miami.

Claiming to have deployed more than 18.5 million IPv6-networked devices for smart-grid networks around the world, Silver Spring Networks recently flagged a 3% dip in revenues for the first quarter, to $71.8 million, and saw its net loss widen to $9 million, from $8.4 million in the same period last year.

Speaking to analysts during the company’s earnings call, Lang said that newer customer deployments were taking longer to ramp up but insisted Silver Spring Networks had not suffered any “competitive losses” and that its market share remained strong.

He also further explained the rationale for acquiring Streetlight.Vision, estimating the size of the addressable market at some 300 million public street lights.

“Streetlight.Vision has a growing pipeline and is currently working with more than 15 resellers globally, with customers in China and Europe,” said Lang. “There’s also a chance to get pull-through sales of our existing solutions, and this gives us a strong team in smart cities.”
 
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