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Nokia buys SpaceTime Insight to expand IoT, machine learning, analytics portfolio

SpaceTime gives Nokia sales heft and technologies for the energy and transportation industries.

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Nokia is building out its Internet of Things portfolio and ability to target the transportation and energy industries via the acquisition of SpaceTime Insight.

Terms of the deal weren't disclosed. Nokia unloaded Withings, a wearable device maker last week. With SpaceTime, Nokia is also grabbing a foothold in machine learning and analytics.

SpaceTime's flagship platform, Warp 6, provides machine-learning models and analytics for asset heavy industries. Via a sensor network, companies such as NextEra Energy and FedEx can optimize their operations.

Read also: What is the IoT? Everything you need to know about the Internet of Things right now

Nokia said in a statement that the acquisition of SpaceTime also brings a sales team to its IoT unit with industry-specific expertise. SpaceTime CEO Rob Schilling will join Nokia's IoT group.

Here's a look at the SpaceTime Warp 6 platform:

spacetime-warp-6.png

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