logo
  Join        Login             Stock Quote

Nokia (NOK) Acquires 3D Capture Company Earthmine, Partners with Mozilla

 November 13, 2012 01:48 PM
 


(By Balachander) Nokia Corp. (NYSE: NOK) announced the acquisition of U.S.-based 3D capture company earthmine and said it is launching a maps application for iOS under the HERE brand.

The Finnish company said earthmine's reality capture and processing technologies will become integral parts of HERE's 3D map making capabilities.   

Financial terms of the acquisition of Berkeley, California-based earthmine were not disclosed.

The cellphone maker expects the deal to close by the end of 2012.

According to Nokia, HERE is the first location cloud to deliver the world's best maps and location experiences across multiple screens and operating systems.

[Related -Microsoft Corporation (MSFT): Little Choice But To Buy Nokia Corporation's (NOK) Devices & Services]

"People want great maps, and with HERE we can bring together Nokia's location offering to deliver people a better way to explore, discover and share their world," commented Nokia CEO Stephen Elop. "Additionally, with HERE we can extend our 20 years of location expertise to new devices and operating systems that reach beyond Nokia."

The maps application is scheduled to be available for free download from Apple's App Store in the coming weeks, Nokia said. Based on HTML5, the company said the app will include offline capabilities, voice-guided walk navigation, and public transport directions.

In addition, Nokia announced a new partnership with Mozilla to bring new location experiences to the Firefox OS.

[Related -Microsoft Corporation (MSFT): Did Microsoft Act Late Over Deal With Nokia Corporation (ADR)?]

Nokia said it plans to launch a mobile Web version of HERE Maps for the new Firefox OS next year.

Further, Nokia announced plans for the availability of a HERE SDK for Android OEMs in early 2013, in a move enabling partners to create location-based applications for Android devices with Nokia's leading content.

The Finnish company , once a darling of investors in the technology space, is transforming itself to meet the demands of the market. Nokia is incurring significant market share losses in smartphones and feature phones. The company is finding it tough to cope with the likes of iPhone and other Android-based smartphones both in the U.S. and emerging markets.

As part of its transformation strategy, Nokia also disclosed plans to sell its non-core assets.

U.S.-listed shares of Nokia lost 1.66 percent to trade at $2.66 on Tuesday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.