In the broadest sense, the Internet of things (IoT) encompasses everything connected to the internet.  However, the term IoT is increasingly being used to refer to the rapidly growing network of connected objects which can collect and exchange data using embedded sensors – from thermostats to appliances to smartphones to wearables.  As the industry continues to grow and blend more with SaaS, complexity will likely increase, and product life cycles will shorten.  It is important that you choose the right investment banking representation for transactions in this this industry – bankers with skillsets who can best translate your innovation into top enterprise value.