Tekcapital (AIM: TEK ) unveiled this morning that its wholly-owned portfolio company, Guident, has entered into a strategic alliance with US group, Cirrus Core Networks ("CCN").
The AIM-listed UK intellectual property investment group explained how the alliance with CCN will be focused on ‘enhancing mobile connectivity with cutting-edge mobility solutions.’
Launched in 2014, CCN offers an end-to-end ‘Network as a Service’ with solutions ranging from a global CBO (carrier breakout optimization) Hub to a CBRS (Citizens Broadband Radio Service) private network.
Today, CCN offers an end-to-end Network as a Service (“NaaS”) with solutions ranging from CCN's global CBO (“carrier breakout optimization”) Hub to a CBRS (“Citizens Broadband Radio Service”) private network.
This is therefore an ideal solution to help Guident reduce the complexity of launching and operating connected Autonomous Vehicles ("AV's") through a Remote Monitoring and Control Center ("RMCC").
The alliance is described as ‘another key milestone’ for both companies to address a critical need in the autonomous vehicle ecosystem for safe and successful remote monitoring.
Shares in Tekcapital have increased from lows of 9p over the past month and closed Friday afternoon trading at 12.75p.
“We are delighted to work with Guident in this exciting upcoming market segment," says Adam Crane, Co-founder, CEO of Cirrus Core Networks.
"We believe that working together will enable a secured, cost-effective and speedy deployment of Guident's advanced teleoperation and control system for autonomous vehicles," says Harald Braun, Chairman and Chief Executive of Guident.
According to Allied Market Research, “the autonomous vehicle market is expected to reach $556 billion by 2026 with a CAGR of 39%,” Tekcapital reiterated this morning to investors.
Alongside a surge in demand for contactless or "touch-free" delivery due to the COVID-19 pandemic, Guident believes this increase will accelerate the roll-out of land-based delivery drones for food and medicines to improve their availability and reduce delivery costs.
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