Verizon wireless today announced partnership with Qualcomm, a world leading mobile chip manufacturer, to form a joint venture to provide machine-to-machine (M2M) wireless communications and smart services offerings across a wide variety of market segments, including healthcare, manufacturing, utilities, distribution and consumer products.

Smart services are the new services and business models enabled by M2M capabilities. For example, smart grid technology enables utilities to wirelessly connect to their grid assets, such as circuit breakers, transformers and other sub-station equipment. This wireless monitoring capability allows them to develop interactive utility networks that are more intelligent, resilient, reliable and self-balancing.

“The Verizon Wireless vision for bringing the benefits of ‘everything connected’ to the marketplace started with the introduction of the open development business and the selection of LTE technology for our 4G network,” said Anthony Lewis, vice president of open development at Verizon Wireless. “We understand that no single company will be able to provide every aspect of the new M2M ecosystem on its own. This distinctive partnership with Qualcomm allows us to swiftly build on the strengths of each company’s M2M strategy. The JV’s focus on unlimited innovation will enable the production of next-generation products and services that will release the full power and potential of our network for customers.”

In this new join venture, Qualcomm will provide its connectivity technologies, and Verizon Wireless will deliver the services.

The joint venture will deliver seamless, fully integrated M2M communication with global connectivity. Key new capabilities will include cloud computing solutions to automate device provisioning, and to track, monitor and manage assets. Custom white label applications for OEM customers, productized applications for end-use markets, new diagnostic tools for monitoring network health and device performance, data aggregation services, back office integrations and other professional services required to deliver whole solutions also will be provided.