Tuya and Orange Belgium extend IoT smart products in Europe
Global IoT specialist Tuya Smart has partnered with Orange Belgium, one of the country’s largest wireless operators, to extend the reach of IoT smart products in Europe.
The partnership will promote the connected home concept with a range of smart home products, including light bulbs, smart sockets, and IP cameras. These will be connected and controlled by the Orange Smart Home app, developed by the Tuya platform.
Tuya Smart is a global AIoT platform provider with an all-in-one offering that makes it simple and affordable for brands, retailers, and OEMs to make their products smart.
“As a bold challenger, we strongly believe in the interest of bringing relevant technology at a fair price to customers, without locking them in closed environments,” said Christophe Dujardin, Chief Consumer Officer of Orange Belgium.
“Our Smart Home offer, based on Tuya’s reliable platform and their app control solution, is a great way to make those kinds of new appliances accessible for a broader public and to allow customers to create their own smart home experience.”
Tuya aims to achieve interconnection of all things so users can connect with products from different brands through an all-in-one solution. Through the Tuya IoT Platform, users only need one app to control all categories of products.
“The European market is integral to expand our platform. Orange Belgium demonstrates strong momentum and potential in growing the IoT market as our partner in Europe. We expect that together with Orange, we can ultimately connect things to develop services to improve the safety of homes and provide consumers with more choices and a better experience when shopping for connected products.”
Tuya’s platform has enabled more than 90,000 smart products in hundreds of categories worldwide.
Verizon to sell Yahoo and AOL for $5 Billion to Apollo
US telecoms giant Verizon is selling its media assets, which includes Yahoo and AOL, to Apollo Global Management, a US private equity firm in a deal worth $5bn (£3.6bn). Verizon will retain a 10% stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan.
According to Verizon this corporate carveout will allow Verizon Media to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners, and nearly 900 million monthly active users worldwide.
“The past two-quarters of double-digit growth have demonstrated our ability to transform our media ecosystem. With Apollo’s sector expertise and strategic insight, Yahoo will be well-positioned to capitalise on market opportunities, media, and transaction experience and continue to grow our full-stack digital advertising platform. This transition will help to accelerate our growth for the long-term success of the company.” Guru Gowrappan, CEO, Verizon Media.
Dominating the internet
Yahoo and AOL once dominated the internet but were subsequently overshadowed by firms like Google and Facebook, instead, they both became giant publishers. Yahoo Sports is a popular destination with sports fans, and Yahoo Finance provides a wealth of information for retail traders. AOL acquired a variety of early media brands, including the Huffington Post (now HuffPost), TechCrunch and Engadget, and several digital ad-tech companies to create a giant platform for advertising. Verizon bought Yahoo in 2017 and AOL in 2015 for a combined $9bn, so are selling at a considerable loss.
“The next iteration requires full investment and the right resources. During the strategic review process, Apollo delivered the strongest vision and strategy for the next phase of Verizon Media. I have full confidence that Yahoo will take off in its new home.” Hans Vestberg, CEO, Verizon.
The sale by Verizon comes after it disposed of blogging platform Tumblr in 2019 and news website HuffPost last year. Under the terms of the agreement, Verizon will receive $4.25 billion in cash and preferred interests of $750 million. The transaction includes the assets of Verizon Media, including its brands and businesses.
The transaction is subject to satisfaction of certain closing conditions and expected to close in the second half of 2021.