Nokia acquires SpaceTime Insight to bring machine learning to its IoT roadmap

Nokia is doubling down on its internet of things (IoT) business with the acquisition of SpaceTime Insight. Terms of the deal were not disclosed. San Mateo-based SpaceTime Insight is an industrial IoT (IIoT) software analytics platform that helps companies protect their devices and assets across their network. It works with a range of companies from manufacturing, transportation, energy, and more to minimize downtime due to technical failures, using machine learning to predict the probability of asset failure. The company had raised around $50 million since its inception in 2008.