TerraNet secures order from an existing customer for commercial offline application
TerraNet has today signed a product development contract and received a new customer order of 2.2 MSEK. The project entails the development of a product involving the integration of Terranet's embedded software into an existing customer’s hardware. The customer is a multinational conglomerate, recognized as a global leader in the highend market for a range of intercom solutions.
This project will result in the development of a product scheduled for launch on the global market within the next two years with subsequent licensing revenues for Terranet. "In line with our strategic vision, this feature can contribute to both increased productivity and safety in noisy environments on factory floors, construction sites, as well as in shipping and airport environments, both at the civilian and federal level," says Mats Lindblad, SVP Industrial IoT at TerraNet.
TerraNet in 2017 has been able to demonstrate further performance enhancements with its patented algorithms and system software for offline signal processing outside the cloud without requiring connection to cellular networks, W-LAN infrastructure or GPS. "Based on this capability, we still have a high level of demand and potential for our intelligent offline connectivity software within the expanding product category of industrial applications. This customized solution serves as a good example," says Pär-Olof Johannesson, CEO of TerraNet " .