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Telefonica (TEF) Arm & Siemens (SIEGY) to Boost Smart Buildings

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Telefonica, S.A.’s (TEF - Free Report) subsidiary, Telefonica Tech, has partnered with the Spanish counterpart of the multinational conglomerate, Siemens AG (SIEGY - Free Report) , to jointly deliver state-of-the-art solutions for smart buildings, ranging from corporate offices to industrial facilities. Per the agreement, Telefonica Tech will incorporate its expertise in physical security, IoT and connectivity with Siemens’ smart electric networks for advanced automation.

Consequently, the combined synergies will help in establishing an enhanced infrastructure, conducive for smart buildings. At a time when majority of the companies are migrating toward automated solutions to accelerate the adoption of sustainable technology, the latest alliance comes as an incentive to not only tap potential market opportunities but also drive digital transformation among organizations for a better future.

Notably, Telefonica Tech is responsible for managing security, cloud and IoT/Big Data businesses with utmost agility. The segment manages these three businesses under a single umbrella to push revenue generation and facilitate the entry of new partners for lucrative business opportunities. The unit is expected to yield revenues of more than €2,000 million in 2022. Its VDC platform is primarily known for optimizing businesses on the back of automation and cloud computing technologies.

As a matter of fact, smart building is a new-age technology that facilitates developers to monitor building characteristics, analyze real-time data and create useful insights to deliver an interactive experience on the back of avant-garde software and sensors.

The deal will enhance smart lighting technologies, predictive maintenance, smart parking and environmental surveillance. As a result, the all-in-one portfolio from Siemens Spain and Telefonica Tech will not only bolster energy-efficient digital solutions for smart homes in the Spanish market but also create competitive benefits for their client base.

Telefonica provides a comprehensive suite of service platforms for fast go-to-market launches. Its IoT connectivity platform has been designed to address dynamic business requirements and enable a cost-effective solution to improve business productivity.

Over the past years, the Spanish company has invested heavily in the deployment and transformation of its network to provide seamless connectivity with enhanced capacity, speed, coverage and security. With operations across 17 countries, the Spanish telecom company is capitalizing on the opportunities in the digital world through several growth strategies to enhance long-term prospects, while experiencing healthy traction in the smartphone market.

Some other players in the broader industry are BCE Inc. (BCE - Free Report) and MYR Group Inc. (MYRG - Free Report) .

BCE has a long-term earnings growth expectation of 5%.

MYR Group delivered a trailing four-quarter earnings surprise of 55.2%, on average.

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