Nokia announced that it has acquired Rapid’s technology assets, including the world’s largest API hub used by thousands of active developers globally, and its highly skilled research and development unit. This deal builds on Nokia’s strategy of expanding its network API product roadmap and leading the API ecosystem of operators, systems integrators, independent software vendors, and hyperscalers to utilize 5G and 4G network capabilities and monetize network assets.
Following massive investments in 5G, operators are using network APIs to monetize their network assets and core capabilities by exposing their network functions in a standardized way to developers so they can build and sell new consumer, enterprise, and industrial applications. The integration of Rapid’s industry-leading API technology with Nokia’s Network as Code platform with developer portal will enable operators to seamlessly integrate their networks, actively control API usage and exposure, enhance API lifecycle management, and collaborate with Rapid’s global developer base on its public API marketplace.
Since launching the Network as Code platform in September 2023, Nokia has gained significant momentum with 27 partners globally, including BT, DISH, Google Cloud, Infobip, Orange, Telefonica, and Telecom Argentina.
Raghav Sahgal, President of Cloud and Network Services at Noka, said: “Operators need a bridge to connect to thousands of developers to drive enterprise and consumer value creation and monetize their networks. Rapid’s technology and talented R&D team, together with Nokia, will allow usto bring a robust API infrastructure platform to accelerate network API-related product development and drive adoption across its broad global developer community.”
Marc Friend, CEO of Rapid, said: “We are pleased to join forces with Nokia. The combination of Rapid’s API technology and R&D expertise with Nokia’s scale and network and API domain expertise will enable us to expand the broader API ecosystem.”
Rapid’s API technology includes a public marketplace, enterprise services, and an enterprise-grade API hub that allows companies to securely design, build, test, and share APIs across their organization and with external partners. With the public API marketplace, developers around the world can list and monetize their own APIs, and connect to hundreds of other APIs.
Financial details of the agreement, signed and closed today, are not being disclosed.
Source: Press Release