Verizon Wireless (NYSE:VZ) has purchased the remaining 50 percent of nPhase, its joint venture for machine-to-machine business it formed with Qualcomm (NASDAQ:QCOM) in 2009. Financial details of the deal were not disclosed.
nPhase, which was founded by Steve Pazol in January 2003, was acquired by Qualcomm in 2006. When Qualcomm teamed with Verizon to form the JV, it combined the nPhase provisioning and back-end M2M systems with Verizon's sales force and distribution channel. The goal of the joint venture was to make it easier and faster for companies to get their M2M devices running on Verizon's network.
In an interview with FierceWireless, nPhase President Steve Pazol said that nPhase employees will become Verizon Wireless employees and he will oversee the transition through February.
Pazol said that nPhase has been experiencing tremendous growth in the M2M space and he believes that is what prompted Verizon to decide to bring the nPhase platform in-house.
Verizon recently formed a new global business unit spanning its wireless and wireline operations that will be responsible for all of its business, government and wholesale operations. Verizon Wireless COO John Stratton is in charge of the new unit, called Verizon Enterprise Solutions. It's unclear whether the nPhase business will be part of this new group at Verizon. However, Stratton is a member of the nPhase board of directors.
Verizon didn't immediately response to questions on the topic.
For more:
- see this Connected World post
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