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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Karnataka approves railway barricades in Madikeri, Nagarhole to curb human-elephant conflict
Bengaluru (PTI): Karnataka Forest Minister Eshwar Khandre on Tuesday said a 7-km railway barricade has been approved for the Madikeri division and 20 km for the Nagarhole division in 2025–26 to curb human-elephant conflict in the regions.
Responding to a proposal raised by BJP MLC Suja Kushalappa during Zero Hour in the Legislative Council, he assured that work on the proposed railway barricades would begin soon.
Citing the death of a 17-year-old girl in an elephant attack on February 28 and that of a tribal woman on March 9 in the state, the minister said these deaths caused by elephant attacks were "extremely painful".
"Human life is very precious and cannot be valued in monetary terms. The Forest Department is taking all measures to prevent human-wildlife conflict."
The minister further said steps such as maintenance of elephant-proof trenches and solar-powered fencing were being undertaken, while two elephant task forces were currently in operation.
Orders have also been issued by the Chief Wildlife Warden to capture two rogue elephants.
In both cases, Rs 5 lakh compensation has already been disbursed to the families of the deceased, and the remaining Rs 15 lakh each will be provided within a week, he added.
Khandre said the government was making sincere efforts to find a permanent solution to the human–elephant conflict.
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