Nokia HERE seeks to acquire Medio Systems to increase its interactivity and accuracy of its mapping systems. HERE has recently acquired another mapping startup, Desti.
Nokia HERE, which recently bought Desti, has decided to add to its brand by purchasing Medio Systems. The cloud-computing map service paired first with Desti, a startup company that also specializes in virtual maps and wiped out the Desti app in the process. Now Nokia HERE will work with Medio Systems to better improve its map services.
Medio Systems, formed in 2004, specializes in creating analytic information from data that already exists. It studies historical trends from that data and reports on it. It too utilizes a cloud service. It actually started out as a company intending to create an inventive search engine for smartphones but later changed its objective. Medio has worked with many big-name brands such as T-Mobile, Disney, IBM, ABC, Rovio, and Verizon.
The merger with Nokia HERE will improve Nokia’s analytics. With Medio Systems in its possession, Nokia seeks to improve the maps that people use to get to their destinations by making them more accurate than ever.
Many investors had worked with Medio Systems in its time as an independent venture. These include Accel Partners, Trilogy Equity Partnership, Frazier Technology Ventures, Mohr Davidow Ventures, Verizon Ventures, and T-Ventures.
Nokia HERE, unlike when it acquired Desti, does plan to allow for Medio to operate as a somewhat separate entity. It will still continue work with its previous partners and won’t entirely change its business model according to Zereski.
Zereski also notes that Medio’s background in search engine results will benefit Nokia HERE. These results will allow a user of the HERE maps to find the closest bars, hotels, or restaurant to them. HERE already works with TripAdvisor and LonelyPlanet to showcase reviews on these establishments so that users can select the best one. The search engine component will only allow users to streamline the information that they seek.
According to Zereski, this potential acquisition isn’t even the first time that Medio Systems and Nokia have crossed paths. He notes to Tech Crunch that the two brands had done “consulting projects over the last four years.” It was during this work that they realized the potential of working together on a larger scale to improve the mapping services for people in a more interactive fashion.
If the deal between Nokia HERE and Medio Systems supposed to close in July. The sum of the acquisition is still unknown.