Nokia Acquires Startup Rapid to Expand 5G Network Development

Nokia, a major provider of infrastructure and services to telecoms carriers, has acquired Rapid, a startup operating an API marketplace. The acquisition aims to integrate Rapid into a platform facilitating 5G operators in opening their networks to more developers. The deal will include a public marketplace, enterprise services, and an enterprise-grade API hub designed for building, testing, and sharing APIs internally and externally.

The financial terms of the deal have not been disclosed. Rapid, once valued at $1 billion, was well known for having 4 million users and 40,000 APIs. Rapid's active users and the number of APIs at present are not disclosed. Nokia's acquisition of Rapid aligns with its strategy to enable carriers to encourage more developments on their 5G networks, which are currently underutilized in some cases.

The combined expertise of Rapid's API technology and R&D with Nokia's scale and network and API domain expertise is expected to broaden the API ecosystem.