Nokia acquired SpaceTime Insight to expand its IoT portfolio and IoT analytics capabilities, and accelerate the development of new IoT applications for key vertical markets. SpaceTime Insight and its CEO Rob Schilling will join the IoT product unit within the Nokia Software business group.
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 for large transportation, energy and utilities organisations, including Entergy, FedEx, NextEra Energy, Singapore Power and Union Pacific Railroad. Its machine learning models and other advanced analytics, designed specifically for asset-intensive industries, predict asset health with a high degree of accuracy and optimise related operations.
Nokia said the acquisition supports its software strategy by bringing SpaceTime Insight's sales expertise and proven track record in IoT application development, machine learning and data science to the Nokia Software IoT product unit. It will strengthen its IoT software portfolio and IoT analytics capabilities, and accelerate the development of its IoT offerings to deliver high-value IoT applications and services to new and existing customers.
The addition of SpaceTime Insight will also broaden the company's ability to deliver new, advanced applications for key vertical markets, including energy, logistics, transportation and utilities.
