SoftBank to Invest in “Encored”,
a Unique Energy IoT Platformer New Energy IoT Services will be provided in Japan
through Energy Data Analysis Platform
July 18, 2017
SoftBank Corp. (“SoftBank”) today announced that it has entered into a definitive agreement of investment in Energy IoT Platformer, ENCORED INC. (“Encored”). On August 1, the corporate name will change from ENCORED INC. to Encored Japan Inc. (“Encored Japan”).
Encored was established in January 2016 as a Japanese subsidiary of Encored, Inc (“Encored USA”). Encored USA is providing a platform service, “Enertalk”, which offers the analysis of real-time energy data with their IoT devices to about 100,000 households worldwide. SoftBank will acquire Encored's new shares through the third-party share issuance by the end of July.
Encored Japan will provide the platform service based on their big data analysis and predictive technologies of the life pattern as well as energy usage data at home to enrich the daily life of people. Encored Japan will work together with their business partners to develop various services such as energy management assistance, diagnosis for energy efficiency of home appliances, and monitored security system for elderly person through their platform.
SoftBank will also invest in Encored USA.
Ken Miyauchi, President & CEO, SoftBank Corp. said, “I am pleased to work with Encored USA, which has excellent energy big data analysis and predictive technologies. Their technologies are indispensable to providing new energy IoT services and they will create new value by fusing energy and Internet communication. I believe that the more our business partners adopt Encored Japan's platform service operated by their own AI technologies, the more SoftBank and Encored can promote various energy services in Japan and enrich people's lives.”
John Choe, CEO and Founder, Encored USA, says: “Encored aims to provide useful and convenient services for various people's lifestyle based on our energy big data analysis. I believe that SoftBank is the best partner for entering not only Japan but also the global market. We will work hard to develop the best IoT platform service by combining Encored's energy big data technologies with SoftBank's various technologies."
About Encored Japan Inc.
|Corporate name||Encored Japan Inc.|
|Established||January 4, 2016|
|Change in corporate name||August 1, 2017|
|Representative||Akihiko Nakano, President & CEO|
|Capital structure||SoftBank Corp. : 50.1%
Encored, Inc : 49.9%
Encored Japan will have a booth at “SoftBank World 2017” on July 20th and 21st. On July 21st at 5:30 PM, John Choe, CEO and Founder, and Akihiko Nakano, President & CEO, Encored Japan will make a presentation.
Encored Japan aims to build good relationships with business partners and provide safe and comfortable lifestyles through their new energy IoT platform.
- ENERTALK is registered trademarks or trademarks of ENCORED Technologies, Inc in Japan and other countries.
- SoftBank, the SoftBank name and logo are registered trademarks or trademarks of SoftBank Group Corp. in Japan and other countries.
- Company and product names are registered trademarks or trademarks of their respective owners.
- The information is true and accurate at the time of publication.
Price, specification, contact and other information of products and service may be subjected to change. The information contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.