Semtech's LoRa Technology Adoption Expands With Helium Deal
Zacks Investment Research | Mar 09, 2020 10:15PM ET
Semtech Corporation (NASDAQ:SMTC) recently partnered with Helium to develop a network based on the LoRa technology in North America.
Helium Inc. is an Internet of Things (IoT) developer platform founded in 2013.
Helium had made its network available late last year to more than 700 cities. The company has now made its network fully compatible with Semtech’s LoRa wide area network (LoRaWAN) protocol.
In order to use the Helium network, users need to deploy a Helium Hotspot device that will allow them to operate a wireless network for IoT.
The LoRa Technology enables long-range connectivity of IoT devices and aids in connecting sensors to the cloud. Its long-range performance and low power consumption requirement enhance overall performance. Moreover, this technology helps in real-time communication of data and analytics to enhance efficiency, as well as productivity.
Semtech is witnessing growing strategic alliance and contracts, thanks to cost-efficient abilities of the LoRa technology in creating as well as deploying IoT solutions.
Consequently, the move is likely to boost the adoption rate of the company’s LoRa technology in the United States, which in turn will drive the top line.
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