Ubiquity Inc (OTCBB:UBIQ) a licensing and technology development company that has broad portfolio of patents announced that it concluded the acquisition of Coversant, Inc. on March 19, 2015. Dale Okuno who is the board member and CEO of Coversant will be a part of Ubiquity’s board of directors. The management team of Coversant will be integrated into company’s existing corporate structure.
The company
Coversant is a developer company of an ‘Internet of Things Service Bus.’ The system can efficiently and securely connect sensors, devices and actuators to users, databases and applications for process control and data analysis. The company is a known entity as it has passed meticulous Defense Information Systems Agency. It even holds a place on the ‘Unified Capabilities Approved Product List.’ The protocol works on XMPP and is governed by the Department of Defense. The main use is real time communication for messaging, chat, video, voice and presence.
The management view
Ubiquity Inc (OTCBB:UBIQ) CEO Chris Carmichael said that the management is excited to close the acquisition deal of Coversant. Now, it looks forward to use management’s software development expertise and experience. The company wants to integrate the rest of the team into Ubiquity. Apart from connecting automobiles, businesses, homes and other equipments, the increase of wearable tech products is resulting in a wide array of potential apps preferably suited to highly secure IOT Service Bus.
The technology
Nick Mitsakos, the co-chairman of Ubiquity, said that the technology of Conversant complements the company’s patented technology. It allows company’s software to intelligently detect objects of interest; discern vehicles, clean the edges, distinguishing marks and incessantly track positions for all stationary and moving targets within the video scene. The accuracy is stated to be high and everything is geo-fenced and mapped. The integration of technology will transforms mobile devices and camera surveillance networks into intelligent detection and alert systems.
