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Velpic signs deal to integrate its learning and security solutions into smart cities

New opportunities for Velpic LMS and Velpic Security presented by this partnership.
Velpic signs deal to integrate its learning and security solutions into smart cities
Smart cities market to grow beyond US$1.3 trillion

Velpic Ltd (ASX:VPC) has signed a memorandum of understanding with Bright Innovations, an Israeli technology company, to add its integrated solutions within Bright’s platform for smart cities.

Velpic has developed a unique cloud-based Learning Management System (LMS) that allows companies to create their own training lessons and distribute them to staff and contractors.

READ: Velpic's shares ride higher on continued growth in recurring revenue

The company’s security platform, powered by Israeli security software company NowForce, allows businesses to manage and respond to any security incidents as well as provide security training.

READ: Velpic teams up with NowForce to enter US$220 billion security services sector

Russell Francis, chief executive officer, said: “I am excited about the opportunities presented by this partnership for Velpic LMS and Velpic Security, our recently launched incident management and preventative education platform, to form an integral part of Bright’s Smart City solution.

“It allows Velpic to capitalise on both the Smart Cities phenomenon and the Internet of Things (IoT) be that in Australia, Singapore or China.

“The addition of NowForce to our platform is already showing a vastly increased opportunity for growth.”

Velpic’s LMS and security solutions to be integrated into smart cities

Bright Innovations utilises street light infrastructure as the key real estate to push out its platform for smart cities.

Terminals, added to Bright’s LED street lights, becomes the connective infrastructure that is extended across a city to deliver Internet of Things (IoT).

Velpic will provide integrated, location aware learning solution and incident management and preventative education solution for smart city communities.

Smart cities market to grow beyond US$1.3 trillion by 2020

A smart city is an urban area that uses different types of electronic data collection sensors to supply information used to manage assets and resources efficiently.

According to a Bank of America/Merrill Lynch report, the smart cities market is expected to exceed US$1.3 trillion by 2020.

Bright Innovations’ platform is currently being deployed and demonstrated in Singapore, and pilot implementations are planned in key locations in China and Australia.

The Velpic LMS and Security platforms are expected to become a part of Bright Innovation’s platform solution for smart cities.

READ: Velpic launches eLearning platform for National Rugby League players

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Velpic Ltd Timeline

Newswire
November 27 2017

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