TerraNet - New V2V order from leading tier one company
TerraNet has announced a new order worth SEK950k ($113k) from a world-leading provider of passive and active safety in the automotive sector. TerraNet is already working with this tier one company to provide sensor-based vehicle communications for offline and non-cellular network services (using TerraNet’s know-how in direct device-to-device Wi-Fi based wireless communication). This specific order is for the continued development of LTE (long-term evolution – or 4G wireless technology) for use in autonomous vehicles. This order is a particularly important verification of the group’s progress in bringing its direct Wi-Fi communications expertise to the LTE space, which is widely expected to become the communication medium of choice for vehicle-to-vehicle (V2V) communications in the future. On this basis, the development of a software module for sale by a leading tier one provides substantial upside potential for the group.TerraNet Holding AB is a Sweden-based provider of software technology that enables intelligent machine-to-machine communication and streaming of data, including bandwidth-demanding high definition media, regardless of mobile networks or other hotspot-dependent networks. The Company's software can work with such technologies as Wi-Fi Aware Discovery and Data Link, Wi-Fi Direct and IBSS, Bluetooth Smart, IEEE 802.11s Mesh and LTE Direct. The Company aims to work within strategic partnerships in order to deliver commercial customer projects in such areas as industrial Internet of things, chip integration and multimedia services. The key customers comprise Autoliv, 3M och Qualcomm, with whom the Company holds license agreements.
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