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Semtech and Traxmate Enable Precision IoT Asset Tracking

CAMARILLO, Calif. — (BUSINESS WIRE) — September 24, 2024 — Semtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems, and cloud connectivity service provider, announced its collaboration with Traxmate, a leading global IoT tracking platform provider, to offer a seamless indoor and outdoor asset tracking solution. Combining Traxmate’s precise location and tracking services with Semtech’s low-power, location-aware LoRa Edge platform, the hybrid solution provides unmatched efficiency for positioning, tracking, and routing of IoT-connected assets.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240924257512/en/

Semtech and Traxmate Enable Precision IoT Asset Tracking (Graphic: Business Wire)

Semtech and Traxmate Enable Precision IoT Asset Tracking (Graphic: Business Wire)

According to Beecham Research, the IoT-supported asset tracking market is expected to account for over 90% of all connected enterprise and industrial options by 2030. With greater visibility and control over their logistics networks, businesses can significantly reduce loss and theft by tracking high-value assets in real time. In the U.S. alone, the impact of cargo theft is estimated at over $30 billion annually.

“Semtech’s LoRa Edge platform combines the strength of long-range connectivity with an ultra-low power GNSS resolver, making it the perfect complement to Traxmate’s AI-enhanced positioning services,” said Rikard Windh, COO at Traxmate. “Together, this enables unparalleled, real-time location accuracy in 2D and 3D to revolutionize asset management with enhanced accuracy and efficiency.”

“The collaboration with Traxmate underscores Semtech’s commitment to drive technology solutions that simplify and accelerate IoT applications,” said Madhu Rayabhari, senior vice president and general manager of Semtech’s Analog, Mixed Signal and Wireless Products Group. “For asset tracking, a hybrid approach like this can provide the true ubiquitous coverage needed for robust and secure supply chain networks.”

Semtech at The Things Conference 2024

Semtech’s demos in booth #C01 will showcase its latest LoRaWAN® and IoT solutions. The conference agenda also includes Semtech IoT experts in keynote, panel, and workshop discussions.

About Semtech’s LoRa Platform

Semtech’s LoRa platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa technology provides the communication layer for the LoRaWAN standard, an ITU-T Y.4480 standard which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 170 countries. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.

About Traxmate

Traxmate offers advanced situational awareness through innovative positioning tools, tracking capabilities, and data. Our comprehensive features, APIs, and SDKs include AI-enhanced indoor and outdoor positioning, fusion location, 3D visualizations, geofencing, alerts, and more. Learn more at traxmate.io.

About Semtech

Semtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems, and cloud connectivity service provider dedicated to delivering high-quality technology solutions that enable a smarter, more connected, and sustainable planet. Our global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. To learn more about Semtech technology, visit us at Semtech.com or follow us on LinkedIn or X.

Forward-Looking and Cautionary Statements

All statements contained herein that are not statements of historical fact, including statements that use the words “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “would,” “could,” “can,” “may,” or other similar words or expressions, that describe Semtech’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors include those risk factors set forth in Semtech’s Annual Report on Form 10-K filed with the Securities and Exchange Commission ( www.sec.gov) on March 28, 2024 as such risk factors may be updated, amended or superseded from time to time by subsequent reports that Semtech files with the Securities and Exchange Commission. Semtech assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

Semtech, the Semtech logo, LoRa and LoRaWAN are registered trademarks or service marks, and LoRa Edge and LoRa Basics are trademarks or service marks, of Semtech Corporation or its subsidiaries. All other trademarks and trade names mentioned may be marks and names of their respective companies.

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Contact:

Michelle Lozada, pr@semtech.com, Fredrik Beckman, marketing@traxmate.io