Emerson Ventures Makes Strategic Investment in Spearix
August 31 2022 - 9:00AM
Business Wire
Emerson (NYSE: EMR) today announced it has made a strategic
investment through Emerson Ventures, its corporate venture capital
arm, in Spearix Technologies, Inc., whose adaptive, multi-core
radio processor provides a system-level solution for Industrial
Internet of Things (IIoT) wireless communication.
Through the investment and Emerson Ventures’ value-add strategic
investment approach, Emerson will support Spearix’s technology and
early stage growth while expanding upon its own IIoT capabilities.
Emerson Ventures is the first corporate or institutional investor
to make an investment in Spearix. In conjunction with the
investment, Emerson has also entered into an engineering
collaboration agreement with Spearix.
“As the IIoT grows, billions of sensors and radio frequency (RF)
transceivers will operate near others in low-cost, unlicensed RF
bands. Wireless networks are increasingly challenged by a variety
of RF aggressors, which can impact reliability and range,” said
Thurston Cromwell, vice president of development and innovation,
and head of Emerson Ventures. “We believe technologies like what
Spearix is building have promise in overcoming the obstacles caused
by interference and congestion. Emerson will realize even greater
reliability and range through the implementation of Spearix
technology into our robust industrial wireless mesh network
portfolio and associated software products. Spearix technology also
presents an enormous opportunity to significantly improve the
performance of many other wireless communication protocols.”
“Emerson Ventures’ investment will enable Spearix to drive its
advanced RF and Digital Signal Processor (DSP) architectures
forward and continue to deliver solutions that resolve connectivity
issues in harsh and congested RF environments,” said Laura Schafer,
vice president and general manager, pervasive sensing and
connectivity solutions at Emerson. “This technology offers a novel
hardware and software approach that has the potential to
significantly improve performance while preserving investments made
in existing communication protocols.”
Based in Cedar Park, Texas, Spearix’s primary product offering
is a multi-core radio processor and associated software that adapts
to optimize performance and power based on measured environmental
conditions. The technology has been shown to greatly improve the
connection reliability of industrial protocols while operating
under heavy interference induced by high-power, high-bandwidth
pervasive Wi-Fi operation.
“At Spearix, we have ambitious plans and goals, and we are
excited to partner with Emerson, which brings the same innovative
thinking we rely on each day,” said Manas Behera, founder and chief
executive officer at Spearix. “Emerson is an ideal fit for us, as
they have the right people, technology, processes and market
expertise. Together, we think we’re going to solve a tremendous
challenge currently facing IIoT.”
Juan Conchas, vice president of sales and marketing at Spearix,
added: “The Emerson partnership is a key step in commercialization
of Spearix technology unlocking many new use cases in high value
applications beyond industrial. The market is calling for
industrial level reliability across many emerging applications,
particularly in open spectrum bands like 2.4GHz where coexistence
will be a challenge.”
The investment will complement Emerson’s vision for WirelessHART
and the evolution of its IIoT product portfolio. Emerson led the
development of WirelessHART as an open standard in the 2000s,
establishing it as the leading wireless protocol for industrial
applications. Integration of Spearix technology offers a
step-change in reliability and range that is fully compatibility
with existing WirelessHART systems and will improve co-existence
and spectral efficiency, provide larger network support to reduce
total cost of ownership, offer higher data rates to accommodate
data-rich devices, and provide redundancy for critical
applications.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA),
is a global technology and software company providing innovative
solutions for customers in industrial, commercial and residential
markets. A leader in industrial automation, Emerson helps process,
hybrid and discrete manufacturers optimize operations, protect
personnel, reduce emissions and achieve their sustainability goals
through its Automation Solutions and AspenTech businesses.
Emerson’s Commercial & Residential Solutions business helps
ensure human comfort and health, protect food quality and safety,
advance energy efficiency and create sustainable infrastructure.
For more information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly
historical may be “forward-looking” statements, which involve risks
and uncertainties, and Emerson undertakes no obligation to update
any such statements to reflect later developments. These risks and
uncertainties include the Company’s ability to successfully
complete on the terms and conditions contemplated, and the
financial impact of, the proposed sale of its InSinkErator food
waste disposal business, the financial impact of the AspenTech
acquisition, the scope, duration and ultimate impact of the
COVID-19 pandemic and the Russia-Ukraine conflict, as well as
economic and currency conditions, market demand, including related
to the pandemic and oil and gas price declines and volatility,
pricing, protection of intellectual property, cybersecurity,
tariffs, competitive and technological factors, inflation, among
others, as set forth in the Company's most recent Annual Report on
Form 10-K and subsequent reports filed with the SEC.
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For Emerson Investor Contact: Colleen Mettler 314-553-2197 Media
Contact: Charlotte Boyd 952-994-8607
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