Neul Ltd., a pioneer of the Weightless wireless standard and a leader in Dynamic Spectrum Access technology including TV White Space, is planning a change of direction and is looking to target the burgeoning Internet of Things market. The company said that it will concentrate on building and delivering a full ‘Network as a Service’ (NaaS) offer for the Internet of Things (IoT).
According to the company it will focus on delivering ultra-low cost endpoints and base stations supporting Weightless, but as a result will be phasing out its design of broadband equipment and software. Neul’s objective will be to enable network operators and similar customers to use Weightless for a wide range of IoT applications, making it simpler and more economic for them to operate, control and bill.
Stan Boland, Neul”s CEO commented: “This step is a recognition that Neul”s start-up phase of discovering how to use valuable spectrum resource in a general purpose way has borne fruit. Neul can confidently lay claim to being the experts in this domain. We will now narrow our attention to serving the fast-emerging Internet of Things market with that knowhow. Low-cost, small form factor and easy to program endpoints with wide area wireless capability will be sampling in just a few months and these will link seamlessly to our cloud-based service offer, making real the long-awaited promise of the Internet of Things.”
The refocus by Neul means that, although TV White Space remains a continued core capability, Neul”s current strategy will be to move away from its business of supplying broadband equipment and services. It is anticipated that most of Neul’s staff will shift to the revised NaaS and IoT activities; however, as a direct consequence of these changes, employee numbers will be reduced in the short-to-medium term, as it exits one business and looks to focus on a new one. It is anticipated that functional roles within the Company will shift to accommodate the new focus and staff reassignment will be managed to retain existing employees wherever possible.
The Company expects to announce more news about the size and participants of its forthcoming funding round in the next 2-3 months.