As we head into a new year, M&A news continues to surface, as consolidation in the IoT continues. It’s inevitable that in as fast-growing and fragmented segment that businesses will combine to strengthen their competitive market position.
In surprise news from the Industrial Internet Consortium (IIC) and OpenFog, this week those non-profit organizations announced they have agreed in principle to combine forces, bringing together community innovation initiatives in Industrial IoT (IIoT), fog and edge computing.
Under the IIC umbrella, the combined membership “will accelerate the adoption of the IIoT, fog and edge computing,” according to the organizations’ collective announcement.
The move will bring OpenFog members into the IIC organization at a time when their complementary areas of technology are emerging in the mainstream.
“This is great news for the industry,” said Christian Renaud, Research Vice President, Internet of Things, 451 Research.Both organizations have been advancing the IIoT, fog and edge computing, and their members represent the best and the brightest in their fields. It makes sense to merge their expertise and work streams to continue providing the IIoT, fog and edge guidance that the industry needs.”
“The Industrial Internet Consortium, now incorporating OpenFog, will be the single largest organization focused on IIoT, AI, fog and edge computing in the world,” said IIC President Bill Hoffman. “Between both of our organizations we have a remarkable global presence with members in more than 30 countries. This agreement will help accelerate the adoption of the IIoT, fog and edge computing.”
The Industrial Internet Consortium is the world’s leading membership program transforming business and society by accelerating the Industrial Internet of Things.
The OpenFog Consortium was founded to advance fog computing and address bandwidth, latency and communications challenges associated with IoT, 5G and AI applications.
“We’re excited by the growth and advancement of fog technologies–from a technology, standards and general awareness standpoint—since our launch nearly three years ago,” said Matt Vasey, OpenFog chairman and president, and director, AI and IoT business development, Microsoft. “During that time, it has increasingly become apparent that we share so much synergy with the efforts of the IIC that it just made sense to bring the two consortia together. The resulting combination of memberships, resources and shared knowledge will only further the growth of the technologies, including fog, that will support IIoT ecosystems.”
Edited by Ken Briodagh