Industrial network device expert Echelon acquires IOT business and also gets rid of its smart grid business.
Echelon has acquired lighting control IOT company Lumewave Inc. Lumewave makes individual lighting controllers ( mainly for outdoor lighting control), gateways, and management and maintenance software. Echelon also sold its smart grid operations to Europe based S&T AG
Echelon shares a market research study on streetlights done by Northeast which says "the market for street lights with smart controls is forecast to grow from less than 2 million units today to more than 100 million units in the next 10 years. The value of installed controls is expected to rise from less than $250 million to more than $10 billion by 2024, with 40 percent of that investment expected in North America."
“This transaction will allow us to focus fully on becoming a key enabler in the transition to the Industrial Internet of Things, with the confidence of knowing that S&T will continue to operate our grid business and support our customers, partners and sales pipeline,” said Ron Sege, chairman and CEO, Echelon Corp. “With the closing of this agreement, we can turn our attention to developing, marketing and selling our industry-leading, open-interoperable control networking platform for the IIoT — especially bringing the benefits of IP-based converged control systems to building automation, outdoor lighting and indoor lighting applications worldwide.”