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Wednesday
Aug192015

PTC Inc – Company Profile

Introduction

As the Internet of Things (IoT) continues to develop and expand throughout the world; one company that could be poised to make a splash in the industry is PTC Inc (NASDAQ: PTC).  PTC delivers technology-enabled solutions that help leading manufacturers change the way they operate, create and service products for a competitive advantage that can be sustained. Over the years PTC has continued to expand its IoT portfolio, most notably through the acquisition of Axeda Corporation on August 12, 2014 and the $112 million acquisition of ThingWorx on December 30, 2013. 

There are several products within PTC’s portfolio, but the most significant in regards to IoT are ThingWorx and PTC Axeda.  ThingWorx and PTC Axeda’s capabilities are combined and the end result is being marketed by PTC as the world’s first complete IoT Platform.  This platform delivers connectivity, device cloud, big data analytics, remote service applications, as well as business logic.  This combination could prove to be a very disruptive form of technology that would potentially allow companies transform the value chain, connect smart things securely, and create applications in a quick fashion. 

ThingWorx

Marketed as the first IoT platform designed to both build and run the applications of the connected world.  A few of the benefits of ThingWorx are that it lowers the risk, cost and time that is typically needed in order to create innovative applications for smart, connected devices.  ThingWorx allows its IoT Platform users to:

  • Deploy based on their preferences.
  • Deploy 10x faster with model-based development.
  • Grow and improve the application over time.
  • Modern and complete platform.
  • People, Systems, and Machines all work together.

Axeda IoT Cloud Service (also referred to the Machine Cloud)

Machine Cloud enables its users to use its cloud-based software to manage connected devices, while also implementing innovative IoT applications. 

Benefits of Machine Cloud

  • Secure and scalable IoT application development platform.
  • Can be connected over both wired and wireless networks.
  • Reduce the costs of IoT implementation solutions.

  • Axeda Connect – IoT Connectivity Middleware
    • Cloud-based communication software that allows users to connect devices and machines to the cloud.
    • Processes, transforms, organizes and stores sensor and machine data.
  • Axeda Build – IoT Application Enablement Platform
    • Cloud-based tools are used to make development of applications easier and allow users to quickly and economically implement IoT applications.
  • Axeda Manage – Connected Machine Management Applications
    • Cloud-based web applications that enable users to manage, monitor, service and control wireless and wired devices remotely.
Tuesday
Aug112015

Shenandoah Telecommunication to Acquire NTELOS

On Monday, August 10th, Shenandoah Telecommunications Company (NASDAQ: SHEN) announced that it will acquire NTELOS Holdings, Corp. (NASDAQ: NTLS), also known as nTelos, for approximately $586.00 million.  As part of the deal, certain assets will also be exchanged with Sprint (NYSE: S). The deal is subject to regulatory approval and is expected to close by the beginning of 2016.

Valuation Analysis and Deal Metrics

Transaction Facts

  • ShenTel will finance the acquisition with a new credit facility. 
  • nTelos shareholders will receive $9.25 per share in cash at closing.   
  • Deal has already been approved by both company’s Board of Directors and is awaiting shareholder approval. 
  • ShenTel’s affiliate agreement with Sprint will be revised.  
  • nTelos spectrum licenses will be transferred to Sprint.
  • 291,000 Sprint customers will become ShenTel Sprint affiliate customers in addition to the 281,500 customers ShenTel picks up from nTelos.
  • ShenTel acquires $130 million net operating loss carryforwards, of which it expects to utilize all but $20 million.

Strategic Considerations

  • Transaction overlaps areas of existing ShenTel cable, fiber, wireless and wireline networks.
  • Overlapping should allow ShenTel to eliminate roughly 148 redundant cell sites, as well as leverage fiber and tower assets.
  • Combination of a ShenTel's local market focus along with the Sprint brand could lead to an increase subscribers.
  • Increased access and scale of Sprint’s shared services could help to increase operating efficiencies. 
  • Sprint will be adding value to the transaction, partly due to $252.00 million in reduced affiliate agreement fees over the next 5 to 6 years. 


JSICA’s Take

  • Transaction increases Shenandoah’s Mid-Atlantic footprint while providing ShenTel a regional area to deploy LTE services and utilize its fiber assets for backhaul. 
  • Acquisition will approximately double ShenTel’s covered POPS, wireless subs, revenue, and OIBDA, before taking into account any potential synergies realized.
  • Strengthens ShenTel’s affiliate relationship with Sprint by revising its current agreement and extending the term by five years to 2029.

Tuesday
Aug112015

LinkLabs - Company Profile

Introduction

  • Have a variety of products that focus on wireless network modules, gateways, & development kits.

Wide-area IoT Gateways – The gateways are capable of licensed or unlicensed deployment.

  • Micro – Single-channel, cost-efficient, sub-GHz radio to control and backhaul 50-200 endpoints over WiFi or Ethernet.
  • Municipal – 32-channel, sub-GHz base station that is best when used for industrial or municipal monitoring applications such as POE or AC powered with WiFi, Ethernet, or 3G/LTE.
  • Metropolis – 256-channel, sub-GHz cellular-style base station for installation on towers that are generally greater than 200 feet.  The installation comes with a bi-directional amplifier, a battery backup system, and cavity filter that has the ability to perform even in harsh environments.

Symphony Gateway

  • 8 Channel Symphony Link LoRa Gateway (LL-BST-8).
    • Internet of Things (IoT) gateway with a long range.
    • Best used with Link Labs Symphony modules.
    • Low-costing and easy to use gateway that has the functionality to be used in the 915 MHz ISM and the 868 MHz ETSI frequency bands.
    • Has the ability to communicate with thousands of devices at a range of many kilometers.

Symphony Base Station

  • Symphony Telecom Base Station (LL-BS-64).
    • Telecom carrier-grade base station that is capable of supporting over 200,000 IoT and Machine to Machine (M2M) endnodes over many square miles.

Long-Range Transceiver Module

  • Transceiver module that gives developers the opportunity to provide long-range communications to user’s devices.
  • FCC certified for operation in the 915 MHz ISM and ETSI compliant for the 868 MHz band.

Symphony Module

  • Symphony Link LoRa Module
    • Low power license-free RF transceiver module (LL-RLP-20).

Symphony Development Kit

  • Symphony Link USB-UART Development Kit.
  • Allows users to develop IoT applications quickly by using the Symphony LL-RLP-20 or LL-RXR-27 modules. 
Tuesday
Aug112015

Sequans Communications (NYSE: SQNS) - Company Profile

Introduction 

  • Marketed as a leading developer and supplier of single-mode LTE chipset solutions that are cost and power efficient. 
  • Company was founded in 2003 to address the WiMAX (Worldwide Interoperability for Microwave Access) market.
  • In 2009, the company’s focus shifted towards address the LTE market.
  • LTE chips power numerous single-mode LTE devices such as tablets, routers, and Machine-to-Machine (M2M) solutions.
  • Considered one of the most pure play 4G technology companies in the world.
  • HQ is located in Paris, France.
  • Other office locations are in the US, UK, Israel, Hong Kong, Singapore, South Korea, China, and Taiwan.

2 LTE Product Lines

  • StreamrichLTE – Primarily for cost-sensitive M2M devices and the Internet of Things (IoT).
  • StreamliteLTE – Primarily for feature-rich mobile computing and home/portable router devices.

StreamrichLTE

  • Product line that is meant for high-end portable and mobile devices.
  • Delivers maximum LTE throughput, as well as support for certain features required on high performing tablets, smartphones, and CPE.

StreamliteLTE

  • Product line for the IoT market.
  • Cost-efficient solutions for IoT devices.
  • Platforms:
    • Colibri LTE Platform – Optimized for Cat 4 M2M and connected devices for the IoT market.
    • Calliope LTE Platform – Optimized for Cat 1 devices for the IoT market.

Colibri LTE Platform

  • The platform delivers a set of IoT features for high efficiency and low cost, which allows for affordable M2M and IoT devices.
  • Adds LTE connectivity to M2M and IoT modules.
  • Supports VoLTE, Wi-Fi SoftAP and includes Sequans’ powerful interference rejection technology, as well as something known as “Sequans Air.”

Calliope LTE Platform

  • Primarily meant for industrial monitoring and wearable devices.
  • Deliver key IoT-related features, which are marketed towards low cost and low power IoT applications.
  • Low power consumption.
  • 2015 Leading Lights Award Winner.
  • 2015 Connected World Magazine – IoT Innovations Award Winner.

 

Friday
Aug072015

Onvoy Announces Acquisition of Broadvox

Onvoy, LLC announced on Tuesday, August 4th its acquisition of Broadvox, LLC.  Onvoy is a leading provider of wholesale telecommunication services.  Broadvox is a CLEC that focuses on providing its customers wholesale VoIP services.  

Transactions Facts

  • Deal is expected to close by the beginning of September.
  • Broadvox serves a client base of approximately 500 VoIP, telecommunications carriers, and SMS-focused ISVs.
  • Broadvox is one of the largest suppliers of VoIP innovative, origination, and termination messaging services in the United States.

Strategic Consideration

  • Transaction will enhance coverage and employee base, which means more opportunities for customers.
  • Combined company will reach approximately 5,000 rate centers and serve 1,000 carriers across the United States.
  • Combined company will be able to meet the communication needs of numerous service and carrier providers within the United States.

JSICA’s Take

  • Economies of scale will give the combined company the tools needed for future expansion and growth.
  • Transaction should provide numerous synergies for the combined entity, partly due to an impressive customer portfolio.
  • Deal adds to the consistent consolidation of the VoIP industry over the last several years.
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