Today HERE, a leader in mapping and location intelligence, completed the acquisition of Medio Systems Inc., a Seattle-based company that is a pioneer in the emerging field of real-time predictive analytics.
Originally announced on June 12, 2014, the transaction is designed to enable HERE to rapidly innovate in the area of contextual mapmaking. We believe that with Medio, HERE will be able to more quickly deliver on its vision to create maps and location services across screens and operating systems that change according to the situation.
"With Medio's predictive analytics capabilities we are strengthening our platform to deliver more personal experiences in cars, on mobile devices and to businesses," said Michael Halbherr, CEO of HERE. "Medio's technology will accelerate our vision to seamlessly bridge the real and virtual worlds. We believe that the focused investments we're making today will enable us to take maps far beyond where they are today to become a valuable source of location intelligence."
The terms of the transaction are confidential.
Medio's skilled team of about 60 employees will immediately work on integrating the predictive analytics technology they have successfully developed for numerous clients across industries into the HERE platform, while continuing to serve their existing client base.
"HERE is executing rapidly towards its goal to provide the best-in-class location platform for customers across screens and operating systems," said Neil Shah, Director of Devices and Ecosystems at Counterpoint Research. "With the Medio acquisition, HERE combines its decades' long location expertise with Medio's real-time predictive analytics expertise. This will build a contextually intelligent spatial analytics platform in this highly location-aware mobile world. This is a powerful industry-leading platform for any business, in any vertical, to take their business intelligence, customer engagement, and decision making to the next level."
HERE intends to share Medio's technology, as relevant, with the other two businesses of the Nokia Group, Nokia Networks and Nokia Technologies, to further capitalize on the acquisition.