NOW, VEEA TIE-UP FOR LAN SOLUTIONS
NOW Corp. on Friday said it had signed a memorandum of understanding with New-York based Veea Inc. to enhance its connectivity network.
The move, the listed information technology (IT) firm said, was aimed at allowing it to deploy “bespoke, standalone private wireless LAN (local area network) solutions tailored for the enterprise market.”
In a disclosure, NOW said that it was aiming to enhance its enterprise segment offerings through stand-alone, private and wireless LAN with edge computing features through the alliance with Veea.
“The parties are also collaborating on strategic areas of growth to extend digital equality and digital inclusion into target markets, providing effective solutions such as affordable connectivity, climate-smart agriculture, edge-medical clinics, edgeu-cation programs and other solutions that promote community development,” the company said.
NOW and Veea plan to target enterprise markets by offering value-added services via the latter’s edge platform. They are also collaborating on strategic areas of growth to extend digital equality and digital inclusion toward their target markets via their solutions.
The deal with Veea supports NOW’s “connectivity and information and communications technology portfolio as we approach enterprises for their digital transformation road map,” NOW President and Chief Executive Officer (CEO) Henry Andrews Abes said.
Veea Chairman and CEO Allen Salmasi said they were “thrilled” to partner with NOW to improve and expand edge connectivity in the Philippines “by utilizing our combined technology.”
NOW has three key business segments: software licenses and services; IT manpower and resource augmentation; and broadband and wireless cable TV services. It offers broadband networks, cloud hosting, virtual private networks, multimedia content, online gaming, web hosting and electronic communications network and services, among others.
Veea’s expertise is said to be in content delivery and edge computing, having brought a broad range of Wi-Fi, 4G/5G mobile wireless and Internetof-Things products to market over the past two decades.
NOW Corp. shares rose by 0.9 percent to close at P1.12 each on Friday.