HERE plans to acquire Medio Systems for creating cognitive maps

HERE plans to acquire Medio Systems for creating cognitive maps

SHARE

Finland: HERE has announced plans to acquire Medio Systems, a Seattle-based company that provides real-time predictive analytics solutions.

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 personalised 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.

"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, CEO of HERE. "We plan to extend Medio's talent and technology that analyses 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."

Predictive analytics are an essential component of the HERE mission to provide the right map and services at the right moment across screens and operating systems. By acquiring Medio, HERE aims to achieve that mission by taking maps far beyond where they are today.

"We share the vision of HERE to deliver highly personalized and contextual maps and services," said Medio founder and CTO, Brian Lent and CEO Robert Lilleness. "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."

The transaction, which is subject to customary closing conditions, is expected to close by the end of July 2014. Following the acquisition, HERE intends to share Medio's technology, as relevant, with the other two businesses of the Nokia Group, Networks and Technologies, to further capitalise on the acquisition.

Source: HERE