Verizon is closing its Skyward drone management company
Telecom heavyweight Verizon has surprised industry observers by abruptly revealing it will be winding down and closing operation of its Skyward drone management business in the next several weeks, shuttering a unit it only bought in 2017.
The shock of learning Verizon’s unexpected decision to close Skyward was accentuated by the news having been revealed in an email sent to clients of the drone services business, the content of which then circulated online. That was followed by a company statement describing the move as a decision to focus on higher near-term growth activities – a reasoning that struck some drone sector observers as odd given the swiftly blossoming promise of commercial UAV operation.
Some estimates put total global UAV market value growing to over $80 billion by next year.
In the email to clients described as “our greatest partners,” Verizon noted it was “not an easy decision” to bring the curtain down on Skyward, whose Drone…