Fresh from the acquisition of AI and natural language processing start-up Desti, Nokia subsidiary HERE is to acquire real-time predictive analytics company Medio Systems.
HERE, which specialises in navigation, mapping and location services, said the acquisition means that it will be able to create contextual maps and location services that change according to the situation to provide highly personalised and predictive experiences for people and businesses.
The company gives examples: individual restaurant recommendations for someone ready for lunch, giving drivers routes that match their driving style based on real-time conditions or helping businesses to personalise their customer offerings.
HERE will share Medio’s technology with the other businesses within in the Nokia group in order to gain maximum benefit from the acquisition.
“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,” said Michael Halbherr, Chief Executive of HERE.
US-based Medio taps into the real-time activity data now readily available from the proliferation of sensors and connected devices and uses a cloud-based predictive analytics engine to gather and process this data.
Said Medio founder and CTO Brian Lent: “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.”
The transaction is expected to close at the end of July. Transaction terms have not been disclosed, but all 60 Medio staff will join HERE.