Fuzhou, China and Delaware, USA – 25 March 2016 – DreamCatcher IoT Technology LLC., a wholly owned subsidiary of Chuango Security Technology Corporation (Beijing NEEQ 831464), is pleased to announce its full acquisition of Jiangsu Above Link Co., Ltd., an IoT solution turnkey provider, for US$270,000.
Above-Link was established in 2011 as a solution provider focusing on the development of “Internet of Things” cloud services and turnkey solutions that address real-life headaches and applications. The company had built end-to-end systems, products and modules to help its clients and their devices and systems to simply connect, while fostering a complete platform-as-a-service (PaaS) business model.
PaaS provides a cloud-based, worry-free, fully serviced venue where clients could leverage, develop, deploy and manage software applications – on a rental, scalable basis as needed – to carry out essential business and client functions, without having to invest heavily in software and network infrastructure upfront.
As Internet connectivity becomes ubiquitous and mobile and smart hardware rapidly evolves, software-as-a-service (SaaS) is increasingly gaining awareness and traction by businesses of all sizes, for its ease of use and value proposition. The scalability and flexibility of SaaS enable businesses to adapt to real-time business conditions more swiftly and create recurring revenue potential worth hundreds of billions of dollars in uncharted territories.
“The fast rising of IoT technology has catapulted the security industry to a whole new playing field, enabling better, quicker, cheaper and wider management and utilization of system and device data,” said Ken Li, founder, Chairman and CEO of Chuango. “PaaS and SaaS provide an easier, safer and smarter way to protect users’ properties while allowing them to fully reap the benefits of a truly connected home that seamlessly integrates security, automation, tele-health monitoring and much more, with complete peace of mind. With the acquisition of Above-Link, Chuango and DreamCatcher have full access to and ownership of 13 patents in the core technology and related areas, and are able to render even better smart home experience worldwide.”
Recently, Chuango has injected additional funds totaling over US$1 million into DreamCatcher and its IoT offering. In addition to the enhanced research and development efforts in PaaS and SaaS, Chuango also invested heavily in Quectel (Beijing NEEQ 836430), a specialist in 3G/4G/LTE modules, to ensure a solid foundation for Chuango’s continuous transformation and maintain its competitive edge.
The acquisition of Above-Link and its talent and expertise in the IoT space perfectly complements Chuango’s technological prowess, solution portfolio and business profitability, and has accelerated Chuango’s transformation to better cater to and capitalize on recurring revenue models and other service-based operators.
About DreamCatcher
Incepted and incorporated in Delaware, DreamCatcher IoT Technology LLC. has a diverse, dynamic and brilliant team across Silicon Valley, Taipei, Shenzhen, Shanghai and Fuzhou, focusing on bringing your IoT ideation to life. With in-house software/hardware/middleware/firmware development, app and industrial designs, as well as worldwide cloud infrastructure and logistics, DreamCatcher is your one-stop shop that satiates all your connected home needs.
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