Huawei has snapped up British IoT company Neul for a reported £15m.
The acquisition will help the Chinese networking equipment giant to further push into the world if Internet of Things, and set up an IoT ‘centre of excellence’ in the UK.
Huawei said in a statement: "The acquisition of Neul gives Huawei improved access to the growing and exciting market in the IoT, which enables advanced connectivity of machines, devices, systems, and services under a variety of applications. Neul is a leading R&D and competence centre, based in Cambridge, UK, providing end-to-end solutions including chipset and platform, base-station and cloud management systems.
"Huawei is delighted to have acquired Neul and its ground-breaking innovations in the IoT. Huawei has no doubt that the IoT market offers huge scope to expand and to deliver important new services and solutions to our customers."
Neul has previously developed a platform called Weightless which connects IoT devices and applications. As the race for IoT standards heats up, Huawei’s acquisition of a startup rather than the joining of an already established standards body speaks volumes about its IoT intent.
For Neul, now with a the swinging power of Huawei behind it, Weightless should get an opportunity to become a prominent platform in the UK IoT space in the near future.