Neul Ltd., a pioneer of the Weightless™ wireless standard and leader in Dynamic Spectrum Access technology including TV White Space, today announced a sharpening of its focus to help catalyze the Internet of Things market.
Neul will concentrate on building and delivering a full ‘Network as a Service’ (NaaS) offer for the Internet of Things (IoT) and on delivering ultra-low cost endpoints and base stations supporting Weightless™, therefore phasing out its design of broadband equipment and software. Neul’s objective will be to enable network operators and similar customers to use Weightless™ for a wide range of IoT applications, making this simple and economic tor them to operate, control and bill.
Stan Boland, Neul’s CEO commented:
“This step is a recognition that Neul’s start-up phase of discovering how to use valuable spectrum resource in a general purpose way has borne fruit. Neul can confidently lay claim to being the experts in this domain.”
“We will now narrow our attention to serving the fast-emerging Internet of Things market with that knowhow. Low-cost, small form factor and easy to program endpoints with wide area wireless capability will be sampling in just a few months and these will link seamlessly to our cloud-based service offer, making real the long-awaited promise of the Internet of Things.”
The refocus at Neul means that, although TV White Space remains a continued core capability, Neul’s current strategy is to move away from its business of supplying broadband equipment and services. It is anticipated that most of Neul’s staff will shift to the revised NaaS and IoT activities; inevitably however, as a direct consequence of these changes, Neul envisages reducing its employee numbers in the short-to-medium term, as it exits one business and starts to build a future one. It is anticipated that functional roles within the Company will shift to accommodate the new focus and staff reassignment will be managed to retain existing employees wherever possible.
All of Neul’s major shareholders are excited by the Company’s prospects and strongly support these steps. The Company expects to announce more news about the size and participants of its forthcoming funding round in the next 2-3 months.
Neul, Ltd. develops innovative and disruptive wireless Network as a Service (NaaS) technology dedicated to connecting the world of machines. The NeulNET system is the first frequency agile, dynamic spectrum access network based on the royalty-free, open communications standard, Weightless™. Neul networks provide a new, simple, end-to-end way to economically connect everything. Visit www.neul.com for more information.
