HERE, a Nokia company and a leader in navigation, mapping and location experiences, announced plans to acquire Medio Systems Inc., a Seattle-based company that is a pioneer in the emerging field of real-time predictive analytics to strengthen its location intelligence capabilities. The transaction is subject to customary closing conditions and the terms are confidential.
According to a statement by Nokia, building on Medio’s ‘smart data’ asset enables HERE to create contextual maps and location services that change according to the situation to provide highly personalized and predictive experiences for people and businesses. That could mean delivering individual restaurant recommendations to someone ready for lunch, giving drivers routes that match their driving style based on real-time conditions or helping businesses personalize their customer offerings. Medio is capable to mine vast amounts of real-time activity data now available from the proliferation of sensors and connected devices into actionable intelligence. Its cloud-based predictive analytics engine leads a fundamental shift in how big data is gathered and processed so that it becomes a valuable source of intelligence to help companies make better, automated business actions.
“We are entering the age of what I call cognitive mapping, in which maps will understand their environment and anticipate people’s intent in order to deliver interactive and smart location experiences. 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.”
– Michael Halbherr, CEO, HERE
“We share the vision of HERE to deliver highly personalized and contextual maps and services. Since our start nearly 10 years ago, Medio has led innovation in the analytics business. Companies from across industries already trust Medio to analyze people on the go to help them deliver more personalized services to their customers. With HERE we are poised to deliver on an expanded vision that puts our team squarely at the intersection of predictive analytics and location intelligence, while also reaching more companies.”
– Brian Lent, Founder & CTO, Medio and Robert Lilleness, CEO, Medio