Current Affairs - Business - Discussion

Nokia has to acquire the SpaceTime Insight, a California-based startup, to expand its Internet of Things (IoT) portfolio and IoT analytics capabilities. SpaceTime Insight offers machine learning-powered analytics and IoT applications for several world's largest transportation, energy and utilities organisations. It has offices in India, Canada, UK and Japan. Nokia did not reveal the terms of the deal. It said that the acquisition will enhance the development of the company's IoT offerings. Rob Schilling, who had been CEO of SpaceTime, will become the head of Nokia's IoT unit.