Nokia: buys US-based IoT specialist SpaceTime Insight

(CercleFinance.com) - Finnish telecommunications gear maker Nokia said on Monday it would buy U.
S.-based SpaceTime Insight, which provides machine learning-powered analytics and Internet of Things applications.

SpaceTime Insight, based in San Mateo, California, is working with some of the world's largest transportation, energy and utilities companies, including FedEx, Singapore Power and Union Pacific Railroad, Nokia said in a statement.

Nokia said that the acquisition would help the company accelerate the development of new IoT applications for key vertical markets. It did not reveal the purchase price.

Nokia also said on Monday that Spain's Telefonica has decided to modernize its data centre network architecture with Nokia's high-performance routing and virtualized cloud services.

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