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Verizon (VZ) Forms Robotics Business Technology Division

Verizon Communications Inc. VZ has formed a new business unit — Robotics Business Technology — to develop enterprise-grade solutions for aerial and ground robotics.

The unit will provide comprehensive solutions that leverage Verizon’s 5G and mobile edge compute capabilities.  

Robotics Business Technology comprises Skyward, Verizon’s drone management company. In April 2017, Verizon acquired Skyward to streamline drone operations.

It also comprises incubed IT, a leading software developer for autonomous mobile robots, which was acquired by Verizon in February 2021. A dedicated team will work on automating command and control of robots on Verizon’s 5G Ultra Wideband network.

The unit is part of Verizon’s New Business Incubation, which works to accelerate the mutually beneficial relationship between humans and machines through platforms that support the fourth industrial revolution.

The solutions from Robotics Business Technology will allow firms to efficiently deploy and manage drones and ground robots. With the help of advanced machines, they can gather data, monitor infrastructure and automate logistics operations.

The unit will provide connected robotics solutions to customers for indoor and outdoor use cases in manufacturing, construction, logistics and utilities, among others.

Verizon’s disciplined network strategy for long-term sustainable growth is noteworthy. It aims to provide 5G Ultra Wideband service using C-band to 100 million people by the end of first-quarter 2022.

Verizon’s shares have inched up 3% in the past year compared with the industry’s growth of 6.8%.

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The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader industry are Cogent Communications Holdings, Inc. CCOI, Motorola Solutions, Inc. MSI and Ooma, Inc. OOMA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Cogent has a trailing four-quarter earnings surprise of 29%, on average.

Motorola has a trailing four-quarter earnings surprise of 11.6%, on average.

Ooma has a trailing four-quarter earnings surprise of 65.5%, on average.

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