Combining SpaceTime Insight with Nokia Software's existing IoT applications group, the acquisition led to the creation of Nokia Software IoT. The product unit is focused on analytics applications and IIoT technologies for asset-intensive industries.

This also complements the Nokia Bell Labs Future X for industries architecture, a communications and cloud-based platform using IIoT, edge computing, AI, machine learning, virtual reality and networking technologies.

Nokia's aim is to provide a digital pit-to-port solution for mining companies, a layer above the traditional data siloes within mining operations. This is supported by SpaceTime's ability to create a single-pane-of-glass view, combined with its advanced data analytics for asset-health predictions.

Based in San Mateo, California, with additional offices in the US, Canada, UK, India and Japan, the IoT company's machine-learning models and other analytics have been used by global transportation, energy and utilities organisations.

Bhaskar Gorti, president of Nokia Software, said the addition of SpaceTime would help Nokia Software deliver new solutions "to meet the demands of an increasingly interconnected world".