X-TELIA announces that it has concluded a strategic transaction with Desjardins, which is taking an equity stake in the Montreal-based technology company.
This investment by Desjardins is part of an approach aimed at investing in companies using innovative operational, technological or economic models to address existing or emerging issues. This is a strategic investment on behalf of Desjardins Group for the benefit of its members and clients and will be managed by Desjardins Capital, the private equity arm of Desjardins.
"Desjardins' participation in X-TELIA will allow us to accelerate the development of the X-TELIA network in Quebec and Canada, and to pursue our mission to make cities smarter, businesses more efficient and citizens safer. We see many synergies between the X-TELIA network and the X-TELIA Group," said Eric Bourbeau, President and CEO of X-TELIA Group, a Quebec-based leader in the Internet of Things and the Smart City. "We see a lot of synergies between Desjardins' vision and X-TELIA's and are very pleased to have chosen them for this first round of financing. »
For more information, read the press release from Desjardins.
X-TELIA is now the only public operator of LoRaWAN® technology in Quebec. This new wireless technology, which is growing rapidly and is present in more than 100 countries, is specifically designed to allow the deployment of low-energy wireless sensors that can send data securely over several kilometres for up to 20 years without the need for power supply or battery recharging.
For example, the technology developed by X-TELIA allows cities to remotely read water meters, to remotely monitor the evolution of spring floods, to know in real time the level of waste in bins or containers, to detect whether a parking space is occupied, or to measure air quality. The technology is equally applicable to precision agriculture, intelligent buildings and Industry 4.0.
"Analysts around the world agree that there will be between 30 and 50 billion connected objects on the planet by 2025, contributing to economic development, environmental protection and general quality of life. X-TELIA intends to ensure that Quebec gets its fair share. "says Martin Jodoin, founding partner and chief technology officer at X-TELIA.
X-TELIA Group Inc. is a Quebec-based company that operates a next-generation wireless network dedicated to the Internet of Things and supports businesses and cities that want to deploy applications that require highly secure, low-cost, low-power long-range connectivity. X-TELIA offers the Quebec market solutions proven elsewhere in the world and leading-edge expertise to facilitate the shift to the Internet of Things. The X-TELIA network is specifically designed to support new applications that make cities smarter, industry more efficient and citizens safer.