Utah’s Monnit Corporation Launched by Serial Technology Entrepreneur

Monnit Will Focus on the Emerging Market for Low Cost, Reliable Wireless Sensors

KAYSVILLE, Utah--(BUSINESS WIRE)--Serial entrepreneur and former CEO and Chairman of MaxStream, Inc. Brad Walters today announced the launch of Monnit Corporation (www.monnit.com), a wireless sensor company targeting the commercial, industrial and consumer wireless sensor markets.

“Monnit’s mission is to be the global leader in low cost, reliable, accurate wireless sensors for commercial, industrial and consumer applications.”

Walters is the former vice chairman of the Utah Technology Council, an Ernst & Young Entrepreneur of the Year Winner (2006) and founder, CEO and Chairman of acquired startup, MaxStream Inc.

Monnit will provide a complete, easy to use monitoring solution starting with a comprehensive list of sensors, gateways used for connecting the sensors to the internet and local or online software programs which allow for configuring the sensors as well as stipulating the time, frequency and target of notifications.

“Wireless sensors are quickly being adopted as a core part of the ‘Internet of Things’ where everyday devices can be identified, communicate status or provide alerts while being managed through computer networks,” said Walters. “Monnit’s mission is to be the global leader in low cost, reliable, accurate wireless sensors for commercial, industrial and consumer applications.”

Monnit anticipates launching its first products in Q3 2010. These products will target the commercial market with the launch of evaluation kits customized for hotels and motels, convenience stores, self storage facilities, restaurants, and building and facility operations. Additionally, Original Equipment Manufacturer (OEM) design kits will be available to allow technology entities the ability to create brand-able, off-the-shelf sensor platforms for integration into existing gateway or service offerings.

“Brad has a proven track record of building high tech businesses that stimulate the economy and create new jobs,” said Richard Nelson, President & CEO of the Utah Technology Council. “The wireless sensor market is still in its infancy and I’m confident that through Brad’s leadership and vision, Monnit will benefit Utah through the creation of new jobs.”

For more information about the company, visit www.monnit.com.

About Monnit

Monnit is a leader in the design and manufacture of turnkey, self-installing, low cost wireless sensor solutions targeted at the commercial, industrial and consumer markets. Monnit’s sensing solutions are designed to be installed and used by anyone to remotely monitor information and activities, including: access, presence of water, luminosity, temperature, humidity, vibration in or around structures and machinery.