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

  • Abrogating the Indus water treaty is bound to have multilateral implications

    The big question looming in the aftermath of the Uri attack is whether water-induced warfare could inflict bigger damage on our western neighbour than

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Telecom litigation now a matter of time

In the Reliance Jio and Cellular Operators Association of India ...

Rajgopal Nidamboor

Love, the only light that matters

For ever it was and ever shall befall/That Love is ...

Shona Adhikari

Where Bhupen Khakhar rubs shoulders with Georgia O'Keeffe

The next India Art Fair (IAF) is scheduled to take ...