Velodyne Lidar ($VLDR) Acquires Montreal-based AI Software Company Bluecity
Velodyne Lidar – TheNewswire - (VLDR) has announced the acquisition of Bluecity, a Montreal-based artificial intelligence software company that provides real-time signal performance measures to identify anomalies in traffic operations while reducing road congestion.
Velodyne’s infrastructure solution software will integrate the company’s award-winning lidar sensors with Bluecity’s A.I. software. This will provide improved traffic monitoring and analytics for road safety and efficiency while also helping cities plan for smarter, greener transportation systems.
Dr. Ted Tewksbury, CEO of Velodyne Lidar stated: “We are excited to welcome Bluecity as full members of the Velodyne team. They are an exceptionally talented group of innovators with game-changing AI and analytics software that perfectly complements our lidar sensors and Vella software.”
With the smart infrastructure market expected to grow to $1.1 billion by 2027, Velodyne will continue to expand its Intelligent Infrastructure capabilities, including monitoring flows of people and vehicles to create a range of new full-stack infrastructure solutions for applications such as parking, retail, casinos and stadiums. The company has deployed its software across four continents, including in Canada, China, India, Finland, Germany and Australia.
Shares of Velodyne Lidar trade on the NASDAQ under the ticker symbol VLDR. For more information visit www.greenstocknews.com.
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