Nokia's HERE to acquire predictive analytics firm Medio

Tags: News
Nokia's mapping and location- based services arm 'HERE' today announced it will acquire the US-based Medio Systems, a pioneer in the emerging field of real-time predictive analytics, for an undisclosed amount.

HERE is expected to close the deal by the July-end. The terms of the transaction are confidential, it said in a statement.

"Building on Medio's 'smart data' asset enables HERE to create contextual maps and location services that change according to the situation to provide highly personalised and predictive experiences for people and businesses," it said.

That could mean delivering individual restaurant recommendations to someone ready for lunch, giving drivers routes that match their driving style based on real-time conditions or helping businesses personalise their customer offerings, HERE added.

Predictive analytics are an essential component of the HERE mission to provide the right map and services at the right moment across screens and operating systems.

Following the acquisition, HERE intends to share Medio's technology, as relevant, with the other two businesses of the Nokia Group, Networks and Technologies, to further capitalise on the acquisition, the firm said.

Medio, which has about 60 employees, mines vast amounts of real-time activity data now available from proliferation of sensors and connected devices into actionable intelligence.

Its cloud-based predictive analytics engine leads a fundamental shift in how big data is gathered and processed so that it becomes a valuable source of intelligence to help companies make better, automated business actions, it added.

"We are entering the age of what I call cognitive mapping, in which maps will understand their environment and anticipate people's intent in order to deliver interactive and smart location experiences," HERE CEO Michael Halbherr said.

EDITORIAL OF THE DAY

  • Insurance regulator must ban differential pricing and exemptions on health covers

    To reduce their overall losses, non-life insurance companies have been increasing the health insurance premium they charge retail customers, both at t

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture