Sensity: After Digital Media, Verizon Increases Efforts in the Internet of Things

Verizon Communications Inc. (NYSE:VZ) has signed an agreement to acquire Sensity Systems Inc., further strengthening its plans of becoming a leader in the internet of things (IoT) market. Although the exact details of the transaction haven't been disclosed, the acquisition is expected to go through by the end of the fourth quarter this year, subject to customary regulatory approvals. Following the announcement, shares of the telecom giant have been trading up 0.83% at $52.25 at 1:08PM EDT.