Nokia Oyj (NOK1V) acquires smart data firm Medio
Nokia Oyj (HEL:NOK1V) has announced that it is acquiring small U.S. based company Medio Systems to enhance its navigation unit called HERE. The price of the deal was undisclosed.
The deal is expected to close by the end of July. Based in Seattle, Medio has around 60 employees.
Nokia said that Medio’s smart data technology suite will enable them to create digital maps that change according to the situation.
In April, Nokia completed the sale of its mobile phone hardware business to Microsoft. This left Nokia with its networks unit, navigation business, and patents.
“We share the vision of HERE to deliver highly personalized and contextual maps and services,” stated Medio founder and CTO, Brian Lent and CEO Robert Lilleness. “Since our start nearly 10 years ago, Medio has led innovation in the analytics business. Companies from across industries already trust Medio to analyze people on the go to help them deliver more personalized services to their customers. With HERE we are poised to deliver on an expanded vision that puts our team squarely at the intersection of predictive analytics and location intelligence, while also reaching more companies.”