The statement was made by Nokia itself last Monday and we now know the terms and conditions of such an acquisition. Indeed, the acquisition of this well-established company will allow Nokia to focus on new key areas in the current landscape.
Founded in 2007, SpaceTime Insight is headquartered in San Mateo, California, United States. It is mainly dedicated to the areas of artificial intelligence and IOT. Something that shows us the interest of Nokia in these areas.
The signs that Nokia wants to enter the world of artificial intelligence and the IOT are notorious, and this acquisition proves that. At this time the company is already firmly implemented in Canada, Japan, India, United Kingdom and of course, in the United States of America.
Nokia to bet on artificial intelligence and IOT
Nokia’s new acquisition specializes primarily in the areas of artificial intelligence and IOT, providing apps (mobile applications) for this purpose. They also provide software based on the latest machine learning algorithms and automatic learning solutions. In other words, artificial intelligence. At the moment, the top product of this company is based on artificial intelligence to create forecasts related to the health area.
According to experts its product is highly reliable and can operate (suitable for operations) on a large scale. You can access your Facebook page here.
The acquisition aims to strengthen the presence of the brand in the area of IOT and IA
SpaceTime Insight CEO Rob Schilling will next join Nokia’s IOT division once the acquisition is complete. However, no details were disclosed regarding the amounts involved in the acquisition.
Still, we can advance that this acquisition reflects Nokia’s growing interest and bet in the areas of artificial intelligence and IOT. A strategy that aims not to hold the brand to the devices directed to the consumer. For example, the smartphone market and strengthen its bet also the business area.
I am reminded that at this moment Nokia is trying to sell its affiliate Withings, dedicated to mobile devices for health. Products such as smart consumer products watches. It moves away (a little) from the consumer market and turns its attention to the enterprise market.
In addition, Nokia is also working hard on the development of the new 5G telecommunications networks. Meanwhile, it is already the 5th largest smartphone manufacturer in Europe according to Canalys data.