SpaceTime Insight

SpaceTime Insight — the American software maker for industrial Internet of Things. The company offers analytical applications and monitoring systems for clients in power, logistic, transport and utility sectors, allowing them to execute more effectively transactions due to reduction of interruptions in service and the number of sendings repair services for troubleshooting.

SpaceTime Insight has more than 20 large customers among whom there are a logistic giant FedEx, the second in value American railway operator Union Pacific, NextEra Energy and Singapore Power energy companies. The volume of the private investments involved with SpaceTime Insight by May, 2018 is about $50 million.

History

2018: Nokia purchased SpaceTime Insight

On May 7, 2018 the Finnish producer of telecommunication equipment Nokia announced SpaceTime Insight purchase. The cost of the transaction of the company was decided not to be disclosed.

After accomplishment of all formalities concerning SpaceTime Insight sale, the company and its CEO Rob Schilling will join to the otdeluinternet of things of division on software development of Nokia.

Nokia purchased software developer for industrial Internet of Things of SpaceTime

As Reuters notes, the Nokia company purchased several small and medium-sized companies within strategy for creation of independent software business for the purpose of obtaining higher profitability in comparison with sales of the classical communication equipment.

By convention many network companies created software for sales increase of network equipment. This expansion towards a corporate segment of the industry — the president of Software Nokia Bhaskar Gorti told news agency, speaking about intentions of the company to sell to more clients representing industrial and the Internet industries.[1]

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