BELLEVUE, Wash., Nov. 3, 2016 /PRNewswire/ -- Bsquare (NASDAQ: BSQR) today announced that it has entered into an agreement with a global supplier of smart grid and smart city solutions to utilize Bsquare DataV™ Internet of Things (IoT) software to enable a distributed app environment across its smart meter offerings. The one-year subscription agreement, which includes an option to extend for an additional four years for an aggregate value of $4.8 million in software and services, will allow utilities around the world to dynamically download apps to individual meters thereby continuously adding functionality that can drive down costs, improve grid reliability, and enable new services. In addition, Bsquare will be entitled to collect a monthly per-app royalty on applications provisioned on individual meters once certain volume milestones have been achieved. Bsquare DataV software uniquely addresses the IoT device management challenges related to these large-scale deployments.
Jerry Chase, Bsquare President and CEO, stated "We believe the challenges associated with provisioning and managing applications on tens of millions of devices distributed globally have been overlooked by many in the IoT industry but are readily addressed by the modular DataV IoT software stack, which is designed for use cases that require hyper-scale. By working closely with this customer, we've been able to help them develop an innovative and compelling solution for smart grids and smart cities." Bsquare will provide its DataV software on a subscription basis over the term of the agreement, along with maintenance and support services. Some components of DataV run on the meters themselves while other components run in the cloud. Cloud infrastructure will be provided by Bsquare partner Microsoft using its Azure platform. About Bsquare For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes. Bsquare DataV software solutions can be deployed by a wide variety of enterprises to create business-focused Internet of Things (IoT) systems that more effectively monitor device data, automate processes, predict events and produce better business outcomes. Bsquare goes a step further by coupling its purpose-built DataV software with comprehensive analytic and engineering services that can help organizations of all types make IoT a business reality. For more information, visit www.bsquare.com. BSQUARE, the BSQUARE Logo and DataV are trademarks of BSQUARE Corporation in the U.S. and other countries. Other names and brands herein may be trademarks of others. Logo - http://photos.prnewswire.com/prnh/20161103/436011LOGO