Nokia Acquires World’s Largest API Hub to Boost 5G Growth

In a strategic move to enhance its 5G and 4G network revenue streams, Nokia announced on Wednesday its acquisition of the world’s largest application programming interface (API) hub and marketplace from U.S.-based tech firm Rapid.

As part of the deal, Nokia will gain ownership of Rapid’s technology and R&D units, providing its clients with greater control over API usage and integration of networks, while also facilitating collaboration with Rapid’s developer community.

This acquisition aligns with Nokia’s broader effort to diversify its revenue base amid increasing demand for 5G infrastructure and emerging AI-driven technologies. APIs, essential strings of code enabling standardized data exchange and functionality between software, are vital in advanced 5G networks, allowing for quicker, safer access to user data, such as location and connectivity details.

Though financial specifics of the transaction were not disclosed, Nokia views this acquisition as a critical step to appeal to investors keen on the potential of AI in telecom.

Nokia, the Finnish multinational known for its pioneering role in telecommunications, was originally founded in 1865 as a paper mill before diversifying into electronics and telecommunications. The company gained global recognition in the 1990s and early 2000s with its durable and user-friendly mobile phones, including the Nokia 3310 and 1100 models, that became iconic worldwide.

Facing challenges in the smartphone era led by Apple and Android, Nokia eventually sold its mobile division to Microsoft in 2014. The company has since repositioned itself as a leader in network infrastructure, 5G, IoT, and digital health technology, collaborating with operators globally to develop high-performance networks. Today, Nokia represents a blend of reliability, innovative design, and Finnish technological excellence.