How Will Nokia (NOK) Stock Be Affected By Medio Systems Acquisition?

NEW YORK (TheStreet) -- Nokia (NOK) announced that it has reached an agreement to buy Seattle based mobile analytics company Medio Systems to bolster its own mapping and navigation project called Here.

The acquisition is an effort to make the company's mapping system more personalized, location-based results.

The move continues Nokia's transformation as it moves away from the smartphone business that it sold to Microsoft (MSFT) for $7.5 billion in April. Financial terms of the deal have not yet been made available.

Must ReadWarren Buffett's 25 Favorite Stocks 

Nokia shares are up slightly, 0.4% to $8.08 on Thursday.

NOK Chart

NOK data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

High-End Nokia 8 to Launch Using Android in India

These Stocks Have Changed Direction

Wolf Pack Descends on BroadSoft

AT&T Expanding 5G Network Trials to Test Faster Service