Lighting

Echelon Goes “All In” on Internet of Things (IoT), but will the Strategy Work?

With the announcement last week that Echelon has completed the sale of its Smart Grid Division, the company are now “All In” on the Industrial Internet of Things. This move to focus their efforts is in tune with others in Silicon Valley, such as the recently announced Paypal spinoff from eBay, driven through by Carl Icahn to increase shareholder value. Indeed Echelon’s need for a change in strategy is greater than most. Financial results over the last 4 years have been poor at best. Revenue dropped from $111.04 in 2010 to $86.16 in 2013. Net Income was $-31.31 in 2010 and $-17.61 in 2013. CEO Ron Sege said at the time of the grid business sale “…we believe we have reached a pivotal point in the future of our IIoT business. Ultimately, we believe that if we continue to invest in both businesses, we may not succeed in either.” I personally don’t disagree with that […]

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