Nokia’s HERE Buying Medio for More Predictive Navigation
HERE, Nokia’s navigation, mapping and location services venture, today announced that it will acquire Medio, a real-time predictive analytics company.
By integrating Medio’s smart data, HERE wants to enable features like individualized restaurant recommendations or providing custom routes based on a driver’s habits and real-time traffic conditions.
HERE CEO Michael Halbherr calls its “cognitive mapping.”
"We plan to extend Medio's talent and technology that analyzes millions of connected devices and billions of interactions on the go to strengthen our ability to deliver highly personalized maps and location services for whatever people face throughout their day," Halbherr said in a statement.
The companies are keeping the financial terms of the transaction to themselves but revealed they expect to close the deal by July 2014. After the acquisition, Nokia will extend Medio’s technology to its Networks and Technology groups as well.
After completing the sale to Microsoft of its handset business and appointing Rajeev Suri as its new CEO, Nokia is pushing its focus toward its networks business as well its in-car navigation service. Nokia HERE enjoys an 80 percent share of the car navigation market.