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HERE completes acquisition of Medio

US: 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. "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.

Source: MarketWatch