Semtech Corp. has collaborated with Helium Inc., creator of one of the world’s first peer-to-peer wireless networks, to develop a network based on its long-range, low-power, or LoRa, technology.
Helium, in San Francisco, made its network fully compatible with Camarillo-based Semtech’s LoRa wide area network (LoRaWAN) protocol. Helium made its network available late last year to more than 700 cities, including Los Angeles.
Users of the network deploy a Helium Hotspot device and are rewarded for creating the network by earning cryptocurrency.
Amir Haleem, chief executive of Helium, said the company was thrilled to work with Semtech to integrate LoRaWAN to extend the reach of the network.
“The combination of our technologies and platforms provides the LoRa developer community with new opportunities to create new (Internet of Things) solutions for both businesses and consumers,” Haleem said in a statement.
Marc Pegulu, vice president of Internet of Things at Semtech, called Helium’s business model highly innovative.
“With Helium’s commitment to using Semtech’s LoRa devices and the LoRaWAN protocol, the massive deployment of a LoRaWAN-based network in the U.S. is becoming a reality,” Pegulu said in a statement.
The collaboration was announced Thursday. On Friday, shares of Semtech (SMTC) closed down $1.31, or nearly 3.4 percent, to $37.77 on the Nasdaq.