M&A: Verizon acquires Skyward, aims to manage drone operations

Verizon's purchase of Skyward signals how the telecom giant sees drones as a key part of its fast-growing Internet of Things business unit.

Verizon said it has acquired Skyward, a startup focused on drone management.

The acquisition of Skyward, based in Portland, Oregon, will bring tools for drone operations into Verizon's Internet of Things portfolio. Verizon has been investing in IoT tools for the enterprise and its IoT business ended 2016 with nearly $1 billion in revenue.

Terms of the deal weren't disclosed. Verizon Ventures was already an investor in Skyward.

• Skyward's technology is used for managing drone operations, bolstering safety and cutting costs. Specifically, Skyward's software offers the following:
• Flight tracking and management of flight hours, training, licenses, and forms.
• A system of record for flight logs, insurance policies, regulatory authorizations, and service agreements.
• Maintenance management including scheduling, incidents, location, battery life, and firmware updates.
• Standard processes for international operations. ZDNet