Veea acquires Virtuosys to gain edge capabilities
June 19, 2018
New York-based smart applications firm Veea has acquired UK company Virtuosys, which specialises in products for the network edge. Following the closing, Virtuosys will become a wholly owned subsidiary of Veea and will change its name to Veea Systems.
Both companies have been collaborating for some time on IoT devices, gateways and smart applications that are seeing adoption in consumer and business environments.
Virtuosys’ managed edge application platform incorporates an intelligent edge server called VeeaHub 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 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.
With the VeeaHub platform, businesses have access to smart applications for retail, transportation, buildings, campuses, factories, healthcare, cities and more supported by indoor and outdoor versions of VeeaHub product and platform services.
An intelligent Linux edge server with a unified wireless and wired computing mesh called vMesh supports all commonly used wireless communications protocols. Edge computing brings together communications and virtualised application environments that is said to create a price-performance advantage for IoT applications.
An embedded server can run software applications dynamically at business locations and in the cloud. In addition, the server also provides 4G data failover services, LAN router and firewall, and VPN services, IoT gateway and firewall, as well as Bluetooth beacon support for applications.
Businesses gain access to applications such as private and guest wifi with an enterprise-class AP, music and video streaming applications, proximal marketing, multi-room PA system, multi-site video training services, private secure messaging, IoT automation services, indoor and outdoor positioning supporting footfall analytics, heat maps and dwell times, workforce management, machine learning, and artificial intelligence
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 by providing improved on-board services while enabling IoT technologies that deliver new capabilities and applications for passengers, rail staff and the operators.
“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,” said Allen Salmasi, CEO of Veea. “This acquisition supports our mission to put businesses in a position to comfortably embrace IoT-enabled devices and catapult into the connected future.”
Veea is in pilot trials of a system 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.
“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 USA, UK, South Korea, France and other countries,” said Alan Jones, Virtuosys CEO. “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 recognising the limitations of the cloud and are increasingly looking to the promise of edge computing.”
Veea also offers a suite of smart retail products, which include the:
- VeeaPoS point of sale platform and applications for retailers, mobile vendors, service providers and hospitality venues.
- VeeaPay payment services that support all major credit cards and methods of payments including contact, contactless and cardless payments – Apple Pay, Google Pay, Samsung Pay, Alipay and WeChat Pay – with competitive rates.
- VeeaConnect merchant application is an end-to-end system to connect businesses with their customers with ease and provide staff management, payment services, proximity-based waitlists, promotions, deals management and product catalogue.
- Veea consumer application is a mobile companion to VeeaConnect app for discovering local businesses, community content, shared experiences, interactive services, personal event planning and unlockable rewards. It is available in the iOS App Store and the Google Play store.