Nokia acquires SpaceTime Insight to expand IoT software portfolio

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Nokia acquires SpaceTime Insight to expand IoT software portfolio

Nokia has acquired SpaceTime Insight to expand its Internet of Things (IoT) portfolio and IoT ana-lytics capabilities and to accelerate the development of new IoT software 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 organizations such as Entergy, Fed-Ex, NextEra Energy, Singapore Power and Union Pacific Railroad. Its machine learning models and advanced analytics capabilities, designed specifically for asset-intensive industries, predict as-set health with a high degree of accuracy and optimize related operations, the company claims. As a result, SpaceTime Insight’s applications aim to reduce cost and risk, increase operational effi-ciencies, and avoid service outages.

Nokia acquires SpaceTime Insight IoT software

The acquisition supports Nokia’s 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 Nokia’s IoT software portfolio and IoT analytics capabilities and accelerate the development of Nokia’s IoT offerings to deliver IoT applications and services. The addition of SpaceTime Insight is also expected to broaden Nokia’s ability to deliver new, advanced applications for key vertical markets, including energy, logistics, transportation and utilities.

Paul Lau, Chief Grid Strategy and Operations Officer at Sacramento Municipal Utility District, said#

We’ve partnered with SpaceTime to help us be more responsive, more efficient and ultimately able to deliver more value to our customers. Combining their innovative solutions with Nokia’s world-class portfolio will provide customers with powerful new tools to better manage assets, maximize efficiencies and deliver new capabilities.

Bhaskar Gorti, president of Nokia Software, believes that

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.

Author: Tim Cole
Image Credit: Nokia

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