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Nokia Announces About Acquiring SpaceTime InSight

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.

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Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.
Headquarter of Nokia, wikimdedia commons
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Nokia said on Monday it has acquired software maker SpaceTime Insight, which industrial customers use to manage millions of devices and assets across their networks, marking the equipment supplier’s latest push to expand beyond telecoms.

Terms of the deal were not disclosed.

SpaceTime supplies monitoring and analytics applications to customers in the energy, logistics, transportation and utilities sectors to run operations more cost effectively by reducing service outages and the need to send out repair trucks.

Among the more than two dozen major customers of SpaceTime, a decade-old Silicon Valley-based company, are FedEx, No. 2 U.S. rail operator Union Pacific, U.S. electric utilities Entergy and NextEra Energy and Singapore Power, Nokia said.

SpaceTime Insight and Rob Schilling, its chief executive, will join the Internet of Things (IoT) product unit within the Nokia Software business group. The company has raised around $50 million in private funding, according to Crunchbase data.

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.
Software Matrix, Pixabay

Nokia has made several small to medium-sized acquisitions as part of a strategy to build up a standalone software business to deliver higher profit margins than its classic communications hardware products.

“Traditionally, most networking companies built software to sell more networking equipment,” Nokia Software President Bhaskar Gorti said in a phone interview. “This is an expansion into the B2B side of the industry,” he said of sales beyond its core telecom markets to internet and industrial customers.

Only around 20 percent of its sales are tied to Nokia telecom equipment, Gorti said, with the remaining 80 percent sold on a standalone basis, both to network operators using rival equipment or, increasingly, to non-telecom customers.

Nokia Software generated just over 1.6 billion euros in revenue in 2017. Three months ago, Nokia renamed the group, previously known as Applications & Analytics, to reflect its growing importance alongside its mainstay network gear business.

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A year ago, it paid around $370 million to buy Comptel, beefing up its business aimed at telecom network operators.

Nokia ranked No. 2 among telecom software suppliers with a 10 percent share of the highly fragmented market, according to 2016 data from industry research group Analysys Mason.

Huawei held 11 percent, Ericsson 9 percent and Amdocs and Oracle, each held 8 percent. (IANS)

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Nokia to Make 500 Smart Villages in India

In the first phase of the project, 20 villages will be digitally integrated in Haryana and Tamil Nadu in a "hub and spoke" model.

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In line with the government's Digital India programme, Nokia on Wednesday launched a
Nokia to initiate Smartpur Village Program. Pixabay

In line with the government’s Digital India programme, Nokia on Wednesday launched a “Smartpur” digital village project with the aim of developing 500 digitally integrated villages across the country in five years.

“India is on the brink of a phenomenal digital journey which can only be successful if it is all inclusive,” said Ambassador of Finland to India Nina Vaskunlahti after inaugurating a pilot of the project in Tain village of Nuh district in Haryana.

“Smartpur project is a significant step in that direction which will integrate these villages and rural communities, providing digital tools and Internet connectivity for social and economic impact that truly makes a village smart and fosters a digitally inclusive society,” she added.

With the Smartpur project, Nokia said it aims to create a sustainable ecosystem in villages where community members can leverage digital tools to bring efficiency in daily lives, transparency in governance, economic prosperity for households and ease of access to various government services and information.

The project will work under the five key areas of development – health, education, livelihood, governance and finance – to build a holistic, digitally integrated village, the Finnish telecom gear maker said.

“The Smartpur initiative is our contribution to delivering the benefits of broadband infrastructure and services to the ‘telecom-dark’ areas and support the government’s vision of Digital India for a more inclusive growth,” said Sanjay Malik, head of India for Nokia.

According to the International Telecom Union ICT (information and communications technology) Facts and Figures, 20 per cent of households in developed countries and as many as 66 per cent of households in developing countries do not have Internet access, leaving almost four billion people from developing countries offline.

In line with the government's Digital India programme, Nokia on Wednesday launched a "Smartpur" digital village project with the aim of developing 500 digitally integrated villages across the country in five years.
Nokia to develop smart villages in India. Pixabay

Nearly a billion of these unconnected people live in India, mostly in rural India.

“At Nokia, we believe connecting the unconnected opens up opportunities in many areas and has tremendous potential to enable socio-economic empowerment of individual as well as communities,” Malik said.

In the first phase of the project, 20 villages will be digitally integrated in Haryana and Tamil Nadu in a “hub and spoke” model.

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Tain village in Nuh district of Haryana and Asoor in Kanchipuram district, Tamil Nadu, will serve as hub which will host a digital centre with telecom connectivity to provide ICT-enabled, primary services.

The spoke centres will further extend these services to nine other villages from each hub, Nokia said.

In the second phase, the project will be scaled-up to up to another 80 villages across various states and subsequently, it will be extended to another 400 villages over a period of five years, it added. (IANS)