Monday, June 16, 2014

Medio Systems Acquired By Nokia

HERE, a developer of navigation, mapping, and location technology which is a unit of Nokia, said Friday that it has acquired Seattle's Medio Systems. Financial terms of the buy were not disclosed. Medio Systems had raised somewhere around $41.0M in funding from such backers as Accel Partners, Dot Edu Ventures, Frazier Technology Ventures, Mohr Davidow Ventures, and Trilogy Partners. HERE said it will use Medio's technology to create contextual maps and location services that change according to the situation.