|By Business Wire||
|July 30, 2014 04:02 PM EDT||
Enventis Corporation (NASDAQ: ENVE) today reported total revenue of $49.7 million for the second quarter ending June 30, 2014, an increase of 5 percent year over year. Revenue was driven by strong fiber and data and equipment segment results, which were up 5 percent and 15 percent respectively. EBITDA, per the company’s credit agreement, totaled $12.6 million in the second quarter, up 3 percent year over year. Net income totaled $1.9 million for the second quarter, a decrease of 18 percent year over year, and was impacted by $911,000 of pre-tax costs related to the proposed merger agreement with Consolidated Communications Holdings, Inc. Excluding these unique costs, net income would have been $542,000 higher and would have been up $132,000 or 6 percent year over year.
“We are very pleased with the strong second quarter results we produced and the positive momentum we have moving into the second half of the year,” said John Finke, president and chief executive officer at Enventis. We’re excited about the potential of our recently launched Cloud Services and the value and benefit this suite of services offer our business customers. Overall, we remain focused on our strategic initiatives and driving revenue growth and profitability across all lines of business.”
Fiber and Data Segment (before inter-segment eliminations)
- Fiber and Data revenue totaled $17.8 million, up 5 percent year over year. This growth is driven by a 6 percent boost in retail revenue and a 4 percent increase in wholesale or carrier services revenue.
- Costs and expenses for this segment totaled $15.5 million, up 5 percent from the prior year.
- Operating income totaled $2.4 million, up 6 percent year over year.
- Net income totaled $1.4 million, an increase of 6 percent year over year.
Equipment Segment (before inter-segment eliminations)
- Second quarter Equipment Segment revenue totaled $17.4 million, a 15 percent increase year over year.
- Equipment sales revenue was $14.1 million, an increase of 9 percent compared to a year ago. Equipment revenue tends to fluctuate quarter to quarter based on sales and installation schedules.
- Support Services revenue in the Equipment Segment was $3.4 million, a 52 percent increase from the second quarter 2013.
- Operating income totaled $1.7 million, an 84 percent increase year over year.
- Net income totaled $1 million, up 84 percent over the second quarter 2013.
Telecom Segment (before inter-segment eliminations)
- Second quarter Telecom Segment revenue totaled $14.4 million, down 2 percent from a year ago. Telecom results were affected by legacy service declines primarily in network access and local service revenue. Broadband service revenue grew 4 percent, offsetting part of the Telecom revenue decline. Competitive price compression is impacting the growth rates of broadband services.
- Digital TV subscribers were up 7 percent and DSL subscribers increased 3 percent and year over year.
- Costs and expenses totaled $12.5 million, down 1 percent year over year.
- Operating and Net income were both down 5 percent compared to a year ago.
Total Capex, Depreciation and Amortization
Total capital expenditures in the second quarter were $6.8 million, compared with $6.5 million in the second quarter 2013. Depreciation and amortization expense increased $258,000 or 4 percent in the second quarter. The increase is primarily attributed to increased capital expenditures associated with fiber network expansion and success-based capital expenditures supporting Fiber and Data revenue growth.
Long-term debt and current maturities, including capitalized leases, totaled $134.4 million as of June 30, 2014. The second quarter 2014 debt balance represents a decrease of $800,000 from the beginning of the year, a reduction of $1.6 million year over year, and a reduction of $7.5 million since the company’s acquisition of Fargo, No. Dakota-based, IdeaOne Telecom in March 2012. Net debt, which measures financial balance sheet strength and subtracts cash on hand from the debt balance, was $126.9 million as of June 30, 2014.
Shareholders Approved Corporate Name Change to Enventis
The company’s shareholders approved a corporate name change from HickoryTech Corporation to Enventis Corporation at the company’s annual shareholder meeting on May 6. The company’s stock is now traded as Enventis on the NASDAQ exchange under ticker symbol “ENVE.” The corporate name change was the final step in the company’s move to a unified brand following its service brand change to Enventis in October 2013.
Launch of New and Expanded Cloud Services
On June 23, 2014, Enventis announced the launch and expansion of its expanded suite of cloud-based services bringing enterprise-class, cloud capabilities and features to businesses of all sizes. Enventis’ SingleLink Unified Communications solution was enhanced to include a more powerful set of features and Cloud Compute, Data Protection and Cloud Wifi solutions were launched offering businesses reliable, yet simple to deploy cloud solutions backed by a proven partner. As a Cisco Gold Partner with a Master Cloud Builder Specialization, Enventis has the technical expertise and capability to deploy and support cloud-ready integrated infrastructure including both public and private cloud strategies.
Agreement and Plan of Merger
On June 30, 2014, Enventis announced its Board of Directors approved a definitive agreement for Enventis to merge with Consolidated Communications. This agreement is an all-stock transaction in which Consolidated Communications will acquire 100 percent of Enventis’ 13.8 million (fully diluted) shares outstanding in a transaction valued at approximately $350 million. Under the terms of the agreement, Enventis shareholders will receive a fixed exchange ratio of 0.7402 shares of CNSL common stock for each share of ENVE common stock. Completion of the merger is subject to various customary closing conditions, including, but not limited to, approval and adoption by Enventis and Consolidated shareholders and certain regulatory approvals. We incurred $911,000 of transaction fees related to entering the merger agreement during the quarter ended June 30, 2014.
Enventis, formerly HickoryTech, (NASDAQ: ENVE) is a leading provider of advanced communication solutions including data, cloud and IT services to businesses throughout the upper Midwest. The company also provides residential broadband services in select southern Minnesota and northwest Iowa communities. The Enventis fiber network spans more than 4,200 route miles across Minnesota and into Iowa, North Dakota, South Dakota and Wisconsin. The company has 520 employees with corporate headquarters located in Mankato, Minn. and a 116-year track record of stability. Learn more about Enventis at www.enventis.com.
To supplement the Company’s financial statements presented in accordance with GAAP, the Company provides certain non-GAAP financial measures of financial performance and position. The Company’s reference to these non-GAAP measures should be considered in addition to results prepared under current accounting standards, but are not a substitute for, or superior to, GAAP results. These non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, financial position and ability to generate cash flows. In many cases non-GAAP financial measures are used by analysts and investors to evaluate the Company’s performance and financial position. Reconciliation to the nearest GAAP measure included in this press release can be found in the financial table included below.
Certain statements included in this press release that are not historical facts are "forward-looking statements." Such forward-looking statements are based on current expectations, estimates and projections about the industry in which Enventis operates and management's beliefs and assumptions. The forward-looking statements are subject to uncertainties. These statements are not guarantees of future performance and involve certain risks, uncertainties and probabilities. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Enventis undertakes no obligation to update any of its forward-looking statements, except as required by law.
Important Merger Information and Additional Information
This document does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
In connection with the proposed transaction, Enventis and Consolidated Communications will file relevant materials with the SEC. Consolidated will file a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”). ENVENTIS SHAREHOLDERS ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, INCLUDING THE PROXY STATEMENT/PROSPECTUS THAT WILL BE PART OF THE REGISTRATION STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. The final proxy statement/prospectus will be mailed to Enventis shareholders. The registration statement and proxy statement/prospectus and other documents filed by Enventis with the SEC are, or when filed will be, available free of charge at the SEC web site at www.sec.gov. Copies of the registration statement and proxy statement/prospectus (when available) and other filings made by Enventis with the SEC can also be obtained, free of charge, by directing a request to Enventis Corporation, 221 East Hickory Street, P.O. Box 3248, Mankato, MN, Attn: Investor Relations. The registration statement and proxy statement/prospectus (when available) and such other documents are also available for free in the investor relations portion of our web site at www.enventis.com, as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC.
Participants in the Solicitation
Enventis and Consolidated Communications, and certain of their respective directors and officers and other persons may be deemed to be participants in the solicitation of proxies from its shareholders in connection with the proposed acquisition transaction. Information regarding directors and executive officers of Enventis in the solicitation is set forth in the Enventis proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Information regarding directors and executive officers of Consolidated in the solicitation is set forth in the Consolidated proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions.
|Consolidated Statements of Income|
Three Months Ended June 30
Six Months Ended June 30
|(Dollars in thousands, except share data)||2014||2013||Change||2014||2013||Change|
|Total operating revenue||49,723||47,141||5||%||93,963||95,910||-2||%|
|Costs and expenses:|
|Cost of sales, excluding depreciation and amortization||12,357||10,860||14||%||20,901||24,082||-13||%|
|Cost of services, excluding depreciation and amortization||17,335||16,971||2||%||33,995||33,570||1||%|
|Selling, general and administrative expenses||8,327||7,047||18||%||15,290||14,496||5||%|
|Depreciation and amortization||7,510||7,252||4||%||15,090||14,261||6||%|
|Total costs and expenses||45,529||42,135||8||%||85,276||87,047||-2||%|
|Interest and other income||8||13||-38||%||8||15||-47||%|
|Income before income taxes||3,211||3,888||-17||%||6,725||6,608||2||%|
|Income tax provision||1,300||1,567||-17||%||2,741||2,661||3||%|
|Basic earnings per share||$||0.14||$||0.17||-18||%||$||0.29||$||0.29||0||%|
|Basic weighted average common shares outstanding||13,641,564||13,531,007||13,619,055||13,543,690|
|Diluted earnings per share||$||0.14||$||0.17||-18||%||$||0.29||$||0.29||0||%|
|Diluted weighted average common and equivalent shares outstanding||13,696,119||13,576,967||13,679,378||13,584,749|
|Dividends per share||$||0.15||$||0.145||3||%||$||0.30||$||0.29||3||%|
|Consolidated Balance Sheets|
|(Dollars and Share Data in Thousands)||June 30, 2014||December 31, 2013|
|Cash and cash equivalents||$||7,478||$||7,960|
|Receivables, net of allowance for doubtful accounts of $344 and $370||31,650||26,073|
|Income taxes receivable||3,334||970|
|Deferred income taxes, net||2,377||2,660|
|Total current assets||49,669||43,262|
|Property, plant and equipment||471,823||461,712|
|Accumulated depreciation and amortization||(293,754||)||(280,386||)|
|Property, plant and equipment, net||178,069||181,326|
|Intangible assets, net||3,827||4,088|
|Deferred costs and other||6,435||5,762|
|Total other assets||39,290||38,878|
|Liabilities and Shareholders' Equity|
|Extended term payable||13,068||8,879|
|Accrued expenses and other||11,201||10,443|
|Financial derivative instruments||371||242|
|Current maturities of long-term obligations||1,504||1,586|
|Total current liabilities||34,932||30,369|
|Debt obligations, net of current maturities||132,938||133,621|
|Accrued income taxes||246||244|
|Financial derivative instruments||537||1,184|
|Accrued employee benefits and deferred compensation||12,357||12,344|
|Deferred income taxes||37,199||37,103|
|Total long-term liabilities||185,847||187,201|
|Commitments and contingencies|
|Common stock, no par value, $0.10 stated value|
|Shares authorized: 100,000|
|Shares issued and outstanding: 13,646 in 2014 and 13,569 in 2013||1,365||1,357|
|Additional paid-in capital||17,271||16,462|
|Accumulated other comprehensive income||533||709|
|Total shareholders' equity||49,844||49,310|
|Total liabilities and shareholders' equity||$||270,623||$||266,880|
|Fiber and Data Segment|
Three Months Ended June
Six Months Ended
|(Dollars in thousands)||2014||2013||% Change||2014||2013||% Change|
|Revenue before intersegment eliminations:|
|Total Fiber and Data revenue||17,843||16,992||5||%||35,542||33,676||6||%|
|Cost of services|
|(excluding depreciation and amortization)||8,865||8,583||3||%||17,071||16,840||1||%|
|Selling, general and administrative expenses||3,494||3,233||8||%||6,850||6,593||4||%|
|Depreciation and amortization||3,107||2,922||6||%||6,297||5,718||10||%|
|Total costs and expenses||15,466||14,743||5||%||30,218||29,789||1||%|
Three Months Ended June
Six Months Ended June
|(Dollars in thousands)||2014||2013||% Change||2014||2013||% Change|
|Revenue before intersegment eliminations:|
|Total operating revenue||17,407||15,116||15||%||29,655||32,353||-8||%|
|Cost of sales|
|(excluding depreciation and amortization)||12,357||10,860||14||%||20,901||24,082||-13||%|
|Cost of services|
|(excluding depreciation and amortization)||1,737||1,808||-4||%||3,514||3,503||0||%|
|Selling, general and administrative expenses||1,467||1,390||6||%||2,770||2,804||-1||%|
|Depreciation and amortization||130||124||5||%||268||209||28||%|
|Total costs and expenses||15,691||14,182||11||%||27,453||30,598||-10||%|
Three Months Ended June
|Six Months Ended|
|(Dollars in thousands)||2014||2013||Change||2014||2013||Change|
|Revenue before intersegment eliminations:|
|Total operating revenue||$||14,386||$||14,622||-2||%||$||28,754||$||29,287||-2||%|
|Total Telecom revenue before intersegment eliminations|
|Cost of services (excluding depreciation and amortization)||6,845||6,767||1||%||13,654||13,614||0||%|
|Selling, general and administrative expenses||1,981||2,146||-8||%||3,967||4,391||-10||%|
|Depreciation and amortization||3,708||3,756||-1||%||7,386||7,459||-1||%|
|Total costs and expenses||12,534||12,669||-1||%||25,007||25,464||-2||%|
|Business access lines||18,660||19,628||-5||%|
|Residential access lines||19,914||21,496||-7||%|
|Total access lines||38,574||41,124||-6||%|
|High-speed Internet ("DSL") customers||21,185||20,538||3||%|
|Digital TV customers||11,749||11,001||7||%|
|Reconciliation of Non-GAAP Measures|
|Three Months Ended||Six Months Ended|
|June 30||June 30|
|(Dollars in thousands)||2014||2013||2014||2013|
|Reconciliation of consolidated net income to EBITDA:|
|Depreciation and amortization||7,510||7,252||15,090||14,261|
|Adjustments allowed under our credit agreement:|
|Merger Costs/Asset impairment||911||5||911||638|
|EBITDA per our credit agreement||$||12,623||$||12,276||$||24,696||$||23,777|
|Three Months Ended||Six Months Ended|
|(Dollars in thousands)||June 30||June 30|
Reconciliation of net income to net income without merger costs:
|Add back: After-tax merger costs||542||-||542||-|
|Net income excluding merger costs||$||2,453||$||2,321||$||4,526||$||3,947|
|(Dollars in thousands)|
|Reconciliation of net debt:||Jun-14||Mar-14||Dec-13||Sep-13|
|Debt obligations, net of current maturities||$||132,938||$||133,289||$||133,621||$||134,018|
|Current maturities of long-term obligations||1,504||1,551||1,586||1,584|
|Cash and cash equivalents||7,478||12,243||7,960||6,516|
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Jan. 31, 2015 03:00 PM EST Reads: 3,587
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 02:30 PM EST Reads: 2,740
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
Jan. 31, 2015 02:00 PM EST Reads: 3,893
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Jan. 31, 2015 01:15 PM EST Reads: 2,708
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
Jan. 31, 2015 01:00 PM EST Reads: 2,054
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
Jan. 31, 2015 12:45 PM EST Reads: 1,968
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubNub’s 14 global points-of-presence. PubNub delivers secure communication through firewalls, proxy ser...
Jan. 31, 2015 12:45 PM EST Reads: 1,796
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 31, 2015 12:00 PM EST Reads: 8,160
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Jan. 31, 2015 12:00 PM EST Reads: 2,808
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 11:45 AM EST Reads: 3,706
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
Jan. 31, 2015 11:45 AM EST Reads: 2,844
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Jan. 31, 2015 11:30 AM EST Reads: 2,397
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Jan. 31, 2015 11:15 AM EST Reads: 3,321
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
Jan. 31, 2015 11:00 AM EST Reads: 2,551
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Jan. 31, 2015 11:00 AM EST Reads: 3,444
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Jan. 31, 2015 10:45 AM EST Reads: 2,762
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Jan. 31, 2015 10:45 AM EST Reads: 3,325
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Jan. 31, 2015 10:30 AM EST Reads: 2,618
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Jan. 31, 2015 10:00 AM EST Reads: 3,280
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Jan. 31, 2015 10:00 AM EST Reads: 2,496