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Nokia acquires US based SpaceTime
The Finnish company says that it has acquired SpaceTime Insight to expand its Internet of Things (IoT) portfolio and IoT analytics capabilities, and accelerate the development of new IoT applications.
Based in San Mateo, California, with offices in the U.S., Canada, U.K., India and Japan, SpaceTime Insight provides machine learning-powered analytics and IoT applications. The company’s solutions are designed specifically for asset-intensive industries, predict asset health with a high degree of accuracy and optimize related operations
The acquisition supports Nokia's software strategy by bringing SpaceTime Insight's sales expertise and track record in IoT application development, machine learning and data science to the Nokia Software IoT product unit. It will strengthen Nokia's IoT software portfolio and IoT analytics capabilities, and accelerate the development of Nokia's IoT offerings.
Bhaskar Gorti, president of Nokia Software, said: "Adding SpaceTime to Nokia Software is a strong step forward in our strategy, and will help us deliver a new class of intelligent solutions to meet the demands of an increasingly interconnected world. Together, we can empower customers to realize the full value of their people, processes and assets, and enable them to deliver rich, world-class digital experiences."
SpaceTime Insight and its CEO Rob Schilling will join the IoT product unit within the Nokia Software business group.
