Nokia said on Wednesday it had bought the world's largest application programming interface (API) hub and marketplace from U.S. company Rapid as it seeks to boost revenues from its 5G and 4G networks.

This acquisition aligns with Nokia's strategy to expand its network API product road map and lead the API ecosystem, enabling operators, systems integrators, independent software vendors and hyper-scalers to leverage 5G and 4G network capabilities.

Nokia, once the world's biggest mobile phone company but now mainly a provider of infrastructure and services to telecoms carriers, has made an

Acquisition designed to strengthen network API product development expanding ecosystem to use 5G, 4G network capabilities while comms tech company claims capacity-reach record for unrepeated transmission over 330km between Italy and Greece.

Nokia Corporation NOK recently announced that it has completed the acquisition of Rapid’s API technology assets for an undisclosed amount. Rapid’s industry-leading API technology includes the world's largest application programming interface (API) hub,