ITT Inc. and Weather Telematics will targets verticals in North America and other territories including China
Canadian company Internet of Things (ITT Inc.) has signed a letter of intent to acquire Ottawa-based Weather Telematics, which specializes in predictive artificial intelligence and autonomous vehicle solutions.
Weather Telematics currently uses a proprietary vehicle-mounted mobile IoT sensor network and AI machine learning system to generate real-time and predictive road weather conditions, road hazard risk alert notifications and dynamic routing applications.
The combination of Weather Telematics’ IoT sensor network and AI platform, is also applicable in various industrial IoT solutions that ITT is targeting, including measuring and monitoring factory air quality; optimizing the supply chain; logistics and asset tracking. Weather Telematics’ specialized and proprietary sensor design capabilities can be developed for custom chemical and optical solutions for the energy; manufacturing; aerospace and agricultural sectors, ITT said.
ITT also said that it plans to expand the capabilities of Weather Telematics’ technology and use its advanced sensor and predictive analytics capabilities for its key industrial IoT markets.
“ITT Inc.’s vision to maximize the opportunities presented by the emerging IoT marketplace closely aligns with our strategy to apply predictive data and IoT sensor networks, to solve some of the global challenges facing the transportation, insurance and weather sectors,” said Robert Moran, CEO of Weather Telematics.
“We are looking forward to working together to grow and expand Weather Telematics’ platform from the autonomous vehicle to the industrial IoT markets in North America and internationally including China through our New Hope JV” said Michael Frank, CEO of ITT Inc.
ITT Inc. said it aims to close the acquisition of Weather Telematics within the next 90 days.
Founded in 2010, Weather Telematics offers road safety data products for industrial, government and consumer markets. The firm uses a proprietary vehicle-mounted mobile IoT sensor network and AI machine learning system to generate real-time and predictive Road Weather Conditions, Road Hazard Risk Alert Notifications and Dynamic Routing applications.
