MOUNTAIN VIEW, California, Nov. 13, 2018 /PRNewswire/ -- Veniam, the leading provider of intelligent networking software for connected cars and future mobility, will explore joint solutions for the connected vehicle market with DENSO, the leading supplier of advanced automotive technology, systems and components for major automakers, through the signing of a Memorandum of Understanding (MOU).
"By 2021 there will be more than 90 Million new connected vehicles coming out of the factory every single year. This represents billions of dollars in data costs for automakers worldwide," said João Barros, founder and CEO of Veniam. "Together, DENSO and Veniam will enable carmakers to go beyond 4G LTE to make the most out of all the wireless interfaces in the car, including Wi-Fi and V2X. This will materially reduce data costs and will also jump start the next generation of cloud-based services for connected cars and autonomous vehicles," continued Barros.
As part of their collaboration, Veniam and DENSO will explore the integration of Veniam's intelligent data networking features in DENSO's Communication Management (DN-CM) systems. This combination will significantly improve the ability of vehicles to move large amounts of data by leveraging multiple different networks securely. Veniam's patented and award-winning technology further enables automakers to set global policies in the cloud that are automatically translated to local configurations in each vehicle communication unit.
About Veniam
Veniam is accelerating future mobility by delivering intelligent networking software for connected cars and autonomous vehicles. With an IP portfolio of more than 160 patents, Veniam's data networking platform makes the most out of all available networks to improve quality of service and reduce the costs of moving massive amounts of data between vehicles and the cloud. Working closely with the world's largest Auto OEMs and Tier 1 suppliers, Veniam aims to improve the lives of millions of people by securely managing the data flows of a new and emerging mobility ecosystem - the Internet of Moving Things - where vehicles move people and goods efficiently but also expand Internet coverage, deliver new human experiences and gather valuable data for smart city applications.
Named by CNBC and NASDAQ as one of the 50 most disruptive companies in the world, Veniam is a global company with its headquarters in Mountain View, California, Engineering Center in Porto, Portugal and sales offices in Detroit, Munich and Tokyo.
About DENSO
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has approximately 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/.
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