Nokia has acquired machine learning-powered analytics firm SpaceTime Insight in a bid to increase and improve its IoT offering.

The multinational telecommunications, information technology and consumer electronics company will be integrating SpaceTime into its IoT software portfolio to help produce better IoT apps.

SpaceTime specialises in predictive analytics, and Nokia wants the companies know-how to managing and optimising enterprise assets.

Furthermore, the company has created a suite of applications on its data management platform, integrating with utility databases and geographic information systems, as well as real-time data coming from meters, sensors and other field devices.

It will also not be coming to Nokia alone, as it will be bringing its customers Entergy, FedEx, NextEra Energy, Singapore Power and Gorti to the table for further business opportunities.

Written by Leah Alger