Nokia Expands IoT Portfolio With SpaceTime Insight Acquisition
Nokia is acquiring US software supplier, SpaceTime Insight, a move which sees the Finnish company expanding its Internet of Things portfolio and IoT analytics capabilities
Nokia says this also accelerates the development of new IoT applications for key vertical markets.
SpaceTime Insight provides machine learning-powered analytics and IoT applications for some of the world’s largest transportation, energy and utilities organisations, including Entergy, FedEx, NextEra Energy, Singapore Power and Union Pacific Railroad.
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.
Nokia says 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. As a result, SpaceTime Insight’s applications help customers reduce cost and risk, increase operational efficiencies, reduce service outages and more.
Bhaskar Gorti, president of Nokia Software says “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 realise 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.
Schilling says, “Today marks a transformational moment for SpaceTime, and I’m delighted to join forces with one of the world’s top organisations-a global brand that is reshaping the future of networking and intelligent software.”