(RTTNews) - On Thursday, Lantronix Inc. (LTRX), an internet service provider, announced a collaboration with Cherry & White, an internet service provider based in the UK, for businesses and infrastructure.
As a part of the collaboration, both the companies will be making a high-speed Wi-Fi platform. Lantronix noted that its NT-552 platform and Cherry & White's Rapid Wi-Fi technology would be combined to deliver faster connectivity, which would be 70 times faster than legacy solutions.
The platform would have two deployment configurations: Vehicle Connectivity Solution installed in fleet and response vehicles, and Peli Connectivity Solution housed in rugged cases for connectivity in harshest environments.
The benefits for both the companies in this collaboration would be high speed connectivity in extreme environments, fast and flexible deployment with lower TCO, and providing 5G connectivity across the world.
The platform primarily targets two segments of the industrial IoT market, expanding the commercial reach of NTC-552 across those segments. The collaboration is structured to capture high-value recurring revenue through managed connectivity services and remote administration via Percepxion.
In the pre-market activity on the Nasdaq, the shares were trading 2.48 percent higher at $6.61, after closing Wednesday's regular trading at 1.26 percent higher.
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