Nokia acquires US IoT start-up SpaceTime Insight
Helsinki, May 7: Nokia on Monday said it has acquired California-based start-up SpaceTime Insight to expand its Internet of Things (IoT) portfolio and IoT analytics capabilities.
SpaceTime Insight provides machine learning-powered analytics and IoT applications for some of the world's largest transportation, energy and utilities organisations, including Entergy, FedEx, NextEra Energy, Singapore Power and Union Pacific Railroad.
Besides the US, the company has offices in India, Canada, UK and Japan.
Designed specifically for asset-intensive industries, the machine learning models and other advanced analytics of SpaceTime Insight predict asset health with a high degree of accuracy and optimise related operations, thereby helping its customers cut cost and risk, while increasing operational efficiencies and reducing service outages.
Without divulging the terms of the deal, Nokia said the acquisition will accelerate the development of the company's IoT offerings to deliver high-value IoT applications and services to new and existing customers.
"Adding SpaceTime to Nokia Software is a strong step forward in our strategy, and will help us deliver a new class of intelligent solutions to meet the demands of an increasingly interconnected world," Bhaskar Gorti, President of Nokia Software, said in a statement.
"Together, we can empower customers to realise the full value of their people, processes and assets, and enable them to deliver rich, world-class digital experiences," Gorti added.
The addition of SpaceTime Insight will also broaden the company's ability to deliver new, advanced applications for key vertical markets, including energy, logistics, transportation and utilities, the Finnish telecom equipment-maker said.
Rob Schilling, who had been CEO of "SpaceTime", will become the head of Nokia's IoT unit, TechCrunch reported.
IoT today is a fairly small part of Nokia's business, the report added.
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Asaduddin Owaisi pays tribute to SM Syed Khalil, calls him great personality of Nawayat Community
Hyderabad: Hyderabad MP and AIMIM Chief Asaduddin Owaisi expressed his condolences on the passing of SM Syed Khalil, a prominent businessman and philanthropist from Bhatkal. In a tweet, Owaisi referred to Syed Khalil as “Khalil Bhau,” fondly acknowledging his significant contributions to the Nawayat community and his work for the poor and needy.
“My condolences to the family of SM Syed Khalil saheb. He was affectionately called as Khalil Bhau, a great personality from the Nawayat Community. He headed many social organizations and helped many poor and needy people. A great loss to the people of Bhatkal. Will miss you, Khalil Bhau,” Owaisi tweeted.
SM Syed Khalil, who passed away in Dubai early Thursday morning after a brief illness, was a respected leader in the Nawayat community and a source of pride for Bhatkal. Known for his extensive contributions to international trade, education, and social service, Khalil’s life was marked by a commitment to uplift the underprivileged and strengthen community ties.
Among his many achievements, Syed Khalil was the Founder Chairman of K&K Enterprises in Sharjah and played a pivotal role in the success of the Galadari Company in Dubai over three decades. He also served as the Chairman of Madhyama Communications Ltd., Mangalore, and was actively involved in promoting Kannada and Konkani languages and culture.
In Bhatkal, he was a guiding force behind institutions like Anjuman Hami-e-Muslimeen and Rabita Society, where he championed girls’ education and worked to improve opportunities for the community. His leadership, humility, and compassion earned him widespread respect, and his contributions extended far beyond Bhatkal, touching lives across Karnataka and beyond.
My condolences to the family of SM Syed Khalil saheb he was affectionately called as Khalil Bhau a great personality from Nawayat Community,he headed many social organisations helped many poor and needy people,great loss to the people of Bhatkal ,will miss you Khalil bhau pic.twitter.com/piHjCCRD5d
— Asaduddin Owaisi (@asadowaisi) November 21, 2024
