Nokia acquires SpaceTime Insight

Nokia acquires SpaceTime Insight
Nokia acquires SpaceTime Insight

A few days after announcing that it would like to do away with the health technology division, Nokia decided to enter into a different field by acquiring SpaceTime Insight, which specializes in software related to Internet of things.

The company announced the deal without disclosing the value of the acquisition, but the value of the emerging company SpaceTime Insight was estimated at $ 103 million in 2016.

The company is characterized by the introduction of software and systems related to the technology Internet of things, as well as data analysis systems for technology, which began to impose itself strongly globally.

Under the agreement, Rob Schilling, the project's executive director, will become director of the Internet of things division of the Finnish company.

Nokia hopes to raise the level of competition in the market, as well as seize the opportunity of the spread of technology Internet of things to achieve more profits in the coming years.

SpaceTime has many customers from large companies such as FedEx, NextEra Energy, and Singapore Power, which makes it easier for Nokia to enter the market.

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