US technology company Intel said it will buy the software division of Canadian company Pivot Technology Solutions, Intel said.
However, terms of the transaction were not disclosed.
Smart Edge offers new opportunities and reduces the cost of edge solutions ownership. For instance, retailers can deploy personalized experiences and combine 5G and data analytics to boost efficiencies.
In addition, Smart Edge runs on Intel’s chips. Those include Intel Xeon Scalable processors, Intel FPGAs and other accelerators. As part of the 5G roll out this year, Intel plans to sell its chips into the equipment.
Pivot’s market value is about $43 millions. Meanwhile, Smart Edge generated loss of $1 million in the first half of 2019.
“This [deal allows us] to address the 5G network transformation with a leading position in edge computing. We [will] take full advantage of our combined technologies to [boost] development,” said Dan Rodriguez, general manager of Intel’s compute division.
Consequently, the companies signed an agreement as part of which Pivot will be official Smart Edge re-seller. For its part, Intel will become non-exclusive preferred systems integrator for Smart Edge services solutions.
Moreover, Pivot said Intel is the right company to advance and scale Smart Edge. Its chief executive Kevin Shank said that he looks forward to work with Intel to develop and take to market “many new edge computing use cases.”
Shares in Intel soared 10% year-to-date and Pivot’s shares jumped 44%year-to-date.