Nokia, once the biggest player in telecommunication industry has started to gain its existence and been doing some movements. Recently, according to the officials, Nokia has made an acquisition over a start up in Internet of Things industry, known as the SpaceTime Insight. This acquisition is a further movement toward expanding its portfolio and analytics capabilities in anything related to Internet of Things.
For the past few years, startup SpaceTime Insight has been known as global scale company providing IoT applications and machine learning-powered analytics for some of largest organizations in energy, utilities and transportation in the world such as Union Pacific Railroad, Singapore Power, NextEra Energy, FedEx and Entergy. The company has offices in multiple countries including Japan, US, UK, Canada and India.
What the SpaceTime Insight has been doing very good that makes it one of the leading companies is its special ability in predicting the asset health with optimized related operations and high degree of accuracy. This ability is provided for the asset-intensive industries through all of its advanced analytics and machine learning models. This has been very helpful for helping the customers cutting risk and costs. At the same time, it has been reducing service outages and increasing operational efficiencies.
On its acquisition, Nokia has stated about its expectation to accelerate the company’s development on IoT offerings in order to deliver better services for both existing and new customers and higher value of IoT applications.
In terms of Nokia’s strategy to develop its company, the SpaceTime is seen as strong step forward. The acquisition will definitely help Nokia delivering better and more advanced intelligent solution considering the needs of increasingly interconnected world.
The President of Nokia stated that Nokia and SpaceTime Insight can deliver one particular goal to help the customers realizing full value of their assets, processes and people. As a result, the customers will be offered with world class and rich digital experiences.
Furthermore, acquisition of SpaceTime Insight has also been seen as a strategy to help Nokia broadening its ability to deliver better and more advanced applications targeted for all the strategic vertical markets such as utilities, transportation and logistics organizations.
Following the acquisition, Nokia has appointed SpaceTime CEO, Rob Schilling as the Nokia’s IoT unit’s head, according to the officials. And, despite the existence of IoT as currently small Nokia business part, the IoT will continue to expand in the future with acquisition as a done deal.