Nokia Acquires API Hub

(Reuters) – Nokia (HE:NOKIA) announced on Wednesday the acquisition of the world's largest application programming interface (API) hub and marketplace from the U.S. company Rapid. This move aims to enhance revenues from its 5G and 4G networks.

Like other telecom equipment manufacturers, Finland's Nokia seeks to monetize its 5G infrastructure and diversify its market to attract investments linked to the growth of artificial intelligence.

Under the agreement, Nokia will acquire the U.S. tech start-up's technology and research and development unit. This will allow its clients to better integrate their networks, manage their API usage, and collaborate with the platform's developer community.

APIs are strings of code that enable standardized communication, data exchange, and functionality between software components. Their implementation in advanced 5G networks facilitates faster, safer, and more precise access to data such as a user's location or connectivity status.

Nokia did not disclose any financial details regarding the acquisition.