Semtech entered into an agreement with Comcast to trial deploy Comcast’s low-power wide-area network (LPWAN) in the United States, based on Semtech LoRa Wireless Radio Frequency Technology.
The LoRaWAN-based network trial deployment is expected to commence in the calendar fourth quarter of 2016 in Philadelphia and San Francisco, and target "smart" enterprise, government and consumer Internet of Things (IoT) applications such as metering, asset tracking, building and public venue management, security, food safety, vending, and waste management.
Both the companies also plan to expand up to 30 U.S. cities within a period of 30 months provided the trial goes successful.
Semtech has agreed to grant Comcast a Warrant to purchase 1,086,957 shares of Semtech's common stock at a purchase price per share equal to $0.01 ("Warrant").
Low power networks are a type of wireless telecommunication networks developed to communicate longer range at less power consumption where sensors operate on batteries. LORAWAN is one such n/w doing well in the market.