Ruckus Wireless Acquires Location Based Services Pioneer YFind Technologies
Ruckus Wireless, Inc. (NYSE: RKUS) announced that is has acquired privately-held YFind Technologies Private Limited, a pioneer in indoor positioning and real-time location analytics.
With this acquisition, Ruckus intends to enable new location-based services by combining its unique, Smart Wi-Fi technology with YFind’s range of location based services and analytical capabilities, transforming Ruckus Smart Wi-Fi networks into location-intelligent infrastructures.
These solutions will address new emerging opportunities among enterprises and service providers to offer value-added services to their customers.
About YFind Technologies
Headquartered in Singapore, YFind Technologies is an indoor positioning systems company that helps businesses analyze movement in any indoor or complex urban environment where GPS does not work. This is made possible by the company’s unique YFind Positioning System™, which accurately locates individuals through the smartphone they carry. Founded in 2010, YFind’s solutions are used in a range of environments including retail malls, airports, museums, hospitals and exhibition venues. By enabling location-aware services, YFind aims to make the world a more intelligent place, one building at a time.
Financial terms of the acquisition are not being disclosed.
This press release includes forward-looking statements that are subject to risks, uncertainties and other factors, including risks and uncertainties related to the ability of Ruckus to (i) successfully expand its business in location-based services, (ii) integrate the technology of YFind into products and services offered by Ruckus and (iii) sell such products to enterprise or service provider customers. The reader is cautioned not to rely on these forward-looking statements. These risks, uncertainties and other factors, and the general risks associated with the business of Ruckus, could cause actual results to differ materially from those referred to in the forward-looking statements. For a discussion of these and other risks and uncertainties, refer to Ruckus SEC filings. Ruckus does not assume any obligation to update any such forward-looking statements or other statements included in this press release.
To view the original press release by Ruckus Wireless click here.