Tinynode joins Paradox Engineering12.05.2015 12:14
The Swiss technology company Paradox Engineering SA and Tinynode SA, the business created in 2012 as a spin-off of Shockfish SA and specialized in wireless vehicle detection systems, are now part of the same group. The holding group being already the majority shareholder of Paradox Engineering SA has announced the acquisition of Tinynode SA to create synergies in an extended Smart City ecosystem.
The ecosystem enlargement is an important step of Paradox Engineering's growth strategy and reinforces its positioning as unique enabler of any kind of smart environment through compelling solutions for the Internet of Things era. Within this widened Smart City ecosystem, Tinynode will have the opportunity to further grow and leverage robust competences, technologies and market presence.
By combining Tinynode's high performance detection systems for parking-related applications with Paradox Engineering's PE.AMI smart urban network platform, municipalities will have the opportunity to develop an integrated hardware and software network communication infrastructure to manage and control a number of smart urban services, including seamless parking and mobility management.
Tinynode's wireless parking sensors will further enrich PE.AMI Smart City smart urban network solution and open the way to design and engineer innovative urban mobility applications. Tinynode's products rely on a patented, lowest-power, multi-hop, self-configuring radio communication protocol, offering a detection reliability above 98% and a radio communication availability above 99%, also granting up to 10 years battery life, low-tech installation and management.
Under the agreement signed on April 30th 2015, 100% of all capital and assets of Tinynode SA has been transferred from Shockfish SA to the holding group being already the majority shareholder of Paradox Engineering SA. Financial terms of the deal are not being disclosed.
Tinynode will maintain its commercial brand and headquarters in Lausanne, Switzerland, granting full support to current clients and projects. Former Tinynode CEO Pierre Castella will remain as external advisor to Tinynode and President Roger Meier will remain as consultant to the company, while Martin Zoller will continue as CTO playing a key role and contribution to the development of Tinynode. New corporate governance and CEO will be announced in the coming weeks. Paradox Engineering and Tinynode will be jointly working on smart initiatives throughout Europe, North America, Middle East and Asia to strengthen their presence in the Internet of Things markets.
"The spark for a smarter world can be lighted by using smart technologies to connect, control and manage the multitude of objects which are disseminated in our cities, therefore creating smart environments for today and tomorrow", states Gianni Minetti, President and CEO, Paradox Engineering SA. "About one year ago we announced the availability of PEAMI Parking Management solution, our off the shelf vertical application for managing parking in a smarter way. Thanks to the company proximity with Tinynode, we are now able to fast-track the development of sound urban mobility platforms and accelerate the adoption of future proof network infrastructures for any kind of smart service based on the Internet of Things".
"Tinynode aims at helping to create a smarter, safer, easier and more comfortable driving world, and we keep pushing to improve performance of our systems for vehicle detection", adds Pierre Metrailler, CEO, Shockfish SA. "We have been partnering with the best experts in signal processing, wireless and low power communication, and are now delighted to recognize in Paradox Engineering the unique competencies and synergies that are needed to boost Tinynode products and business development strategy, with the possibility to address new smart markets on a potential global scale".