Intellectual Property Acquired to Accelerate IoT Network Development Plans
ALLENTOWN, PA / ACCESSWIRE / November 20, 2019 / Iota Communications, Inc. (OTCQB:IOTC), a wireless network carrier and software service company that provides Internet of Things solutions which optimize energy efficiency, sustainability and operations for commercial facilities, today announced it has acquired patented technology from Link Labs, Inc., a leading provider of low power, wide-area network technologies that power the Internet of Things.
Annapolis, Maryland based Link Labs has patented technology to form large-scale wireless Internet of Things networks that can communicate data with thousands of devices at reduced costs, with quicker deployment, longer battery life and more reliability than competing solutions including cellular, Wi-Fi, and Zigbee. Iota's enterprise solutions heavily rely upon asset digitization and this technology acquisition will enable billions of Internet of Things devices to connect to the cloud, leveraging Iota's spectrum licenses.
Senior Management Appointment
In addition, and effective immediately, we are proud to announce the appointment of Brian Ray to the position of Chief Technology Officer. Mr. Ray is the Founder and CTO of Link Labs and brings a depth of leadership in research and innovation, low power wide-area networks, time domain signal locating technologies, and embedded system development. Before starting Link Labs, Brian led a team at the Johns Hopkins University Applied Physics Lab that solved communications and geolocation problems for the national intelligence community. He was also the VP of Engineering at the network security company Lookingglass, and served for eight years as a submarine officer in the U.S. Navy. He graduated from the U.S. Naval Academy and received his Master's Degree from Oxford University. Concurrently, Mr. Ray has resigned as Link Labs' CTO.
"With the purchase of the Link Labs' assets, Iota Communications will be able to further unlock the value of our significant holdings of licensed 800 MHz Spectrum," stated Terrence DeFranco, President & CEO of Iota. "Link Labs has a long history of leadership in network development capabilities and we plan to more directly leverage proprietary technologies as we continue to build our wireless network purpose-built for Internet of Things."
"Link Labs is thrilled to provide a launch platform for Iota Communications' unique IoT business. Our close partnership has been very meaningful to our company and we look forward to remaining closely involved in Iota's growth," said Bob Proctor, Link Labs CEO. "Our Founder, Brian Ray, has provided expert leadership to Link Labs over the last 6 years, and I know he will provide transformational technical leadership to the Iota team."
About Iota Communications, Inc.
Iota is a wireless network carrier system and software applications platform dedicated to the Internet of Things. Iota sells recurring-revenue solutions that optimize energy usage, sustainability and operations for commercial and industrial facilities both directly and via third-party relationships. Iota also offers important ancillary products and services which facilitate the adoption of its subscription-based services, including solar energy, LED lighting, and HVAC implementation services.
About Link Labs
Link Labs, makes it easy and affordable to locate and monitor anything, anywhere. Link Labs' patented AirFinder technology provides real-time, Just Right Precision (TM) location information indoors and out, at a fraction of the cost of alternative technologies. It is an ideal solution for tracking and monitoring assets in and between large footprint facilities-manufacturing sites, warehouses, distribution centers, oil refineries, construction sites, office buildings, hotels, hospitals and more. Distribution partners include AT&T, Ingram-Micro, and Molex.
This press release may contain "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include, but are not limited to,: risks related to the acquisition and integration of the assets we acquired from Solbright Group, Inc., risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Iota Communications, Inc.
645 Hamilton Street
Allentown, PA 18101
Attn: Investor Relations
Public Relations Contact:
Greg Lutowsky, SVP, Corporate Communications
SOURCE: Iota Communications, Inc.