NOKIA has acquired a software producer that is used for monitoring and data analysis. The value of the transaction remains a secret.
The popular Finnish telecommunications technology company - Nokia - is expanding with the company SpaceTime Insight.
Nokia issued a statement indicating that SpaceTime Insight software is used, among others, by companies connected to the energy, logistics, transport, and public utilities sectors.
Since 2007, SpaceTime Insight has obtained nearly USD 50 million in financing from private investors. According to the latest reports, SpaceTime Insight will be incorporated into the part of the Nokia Software division dealing with the Internet of Things (IoT). It is worth adding that in recent months Nokia has been expanding the competencies of this part of its business through acquisitions of small and medium-sized companies.
In 2017, Nokia Software generated EUR 1.6 billion in revenue, but only about 20 percent of it came directly from telecommunications equipment sold by Nokia. The remaining revenue came from solutions sold to operators using equipment from other manufacturers in their networks and to companies from other industries.
About SpaceTime Insight
SpaceTime helps resource-intensive companies generate greater value from their employees, processes, and resources. Machine learning analytics and IoT applications optimize operations in motion, in context, and in real time. Some of the world's largest organizations in transportation, energy, and media use SpaceTime Insight software.
About Nokia
Thanks to the research services and innovation of Nokia Bell Labs, the company serves telecommunications service providers, governments, large enterprises, and consumers.
As they claim, they create technology with social goals, quality, and fairness. Nokia enables 5G infrastructure and the Internet of Things to transform the human experience.
