Verizon (VZ) Announces Acquisition of LQD WiFi
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Seeking to accelerate communities' smart infrastructure and ignite the new fabric of urban spaces, Verizon today announced that it has purchased substantially all of the assets of LQD WiFi LLC., a private company based in New York. Terms of the transaction have not been disclosed.
Mike Lanman, senior vice president, Enterprise Products and Internet of Things at Verizon, said: "LQD's Palo technology hubs capture Verizon's vision of delivering citizen engagement experiences by connecting people with their communities while providing critical security, transportation and wayfinding solutions as well as Wi-Fi capabilities. This transaction uniquely positions us to utilize our unmatched infrastructure, platforms and network at scale to deploy elegant and engaging community technology hubs that connect, inform, inspire and support people where they live, work and play."
LQD Founder and CEO Randy Ramusack said: "We designed Palo, from day one, to be part of the community, offering Wi-Fi, public safety features and a unique, interactive community engagement platform. Palo's human-scale touch screen lets users explore and connect with the local community creating multiple ways to engage, through an innovative, purposeful and curated experience."
"LQD is thrilled to join Verizon to redefine the urban space. As a world leader in wireless technology and smart communities, Verizon's expertise, global scale, and leading media platforms will enable us to deliver on our mission to provide an unbounded flow of information to all people. By bringing Palo to the streets, we're connecting cities to their citizens, citizens to their neighborhoods, and enhancing communities across the country," Ramusack continued.
Next-generation urban technology is becoming increasingly important as citizen's expectations for smart city infrastructure increases. With LQD's technology, Verizon aims to address key community needs such as fostering economic development, bridging the digital divide, facilitating transportation and traffic management and enhancing personal security and urban planning. LQD and Verizon are currently designing solutions for municipalities, private developers, academic institutions and entertainment venues. Verizon also sees opportunity to promote civic innovation and deliver data driven solutions leveraging the open data platforms of cities. These solutions will help communities better inform and engage with their constituents.
New Rochelle Mayor Noam Bramson said: "We want New Rochelle to be an ideal place to live and work. We recognize that a healthy future depends increasingly on robust digital infrastructure, based on cutting-edge technology that can connect residents and businesses alike in a friendly, accessible way. Our partnership with LQD will accomplish all of these goals."
New Rochelle City Manager Charles B. Strome, III. said: "These attractive kiosks will invite residents and visitors to engage with our city, for everything from parks, cultural events and local businesses, to job opportunities and emergency messaging, and they will connect with the world around them through high-speed public Wi-Fi."
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