Nokia acquires SpaceTime Insight to expand its IoT software portfolio

Nokia has acquired SpaceTime Insight to expand its Internet of Things (IoT) portfolio and IoT analytics capabilities, and accelerate the development of new IoT applications for key vertical markets. Based in San Mateo, California, with offices in the US, Canada, UK, India and Japan, 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, a Nokia statement said today. 

Its machine learning models and other advanced analytics, designed specifically for asset-intensive industries, predict asset health with a high degree of accuracy and optimize related operations, it said. SpaceTime Insight's applications help customers reduce cost and risk, increase operational efficiencies, reduce service outages and more. 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 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.

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."