Verizon Communications Acquires Location Provider Senion For Undisclosed Sum

Verizon Communications Inc (NYSE:VZ) has acquired the location-responsive solutions provider, Senion.
The financial terms of the transaction remain undisclosed.
Senion's advanced machine-learning sensor fusion technology delivers sub-meter accuracy for precise positioning and navigation of indoor spaces.
The acquisition expanded Verizon's location-based technology offerings, empowering companies to locate and understand the movement of people, machines, and IoT-enabled items within any space. Additionally, Senion's innovative space solution, combined with analytics and an interactive dashboard, can help companies improve the utilization and productivity of their physical spaces.
Verizon held $10.2 billion in cash and equivalents as of Mar. 31, 2021.
Price action: VZ shares traded higher by 1.01% at $56.38 on the last check Monday.