Rapid, based out of San Francisco, had raised nearly $273 million in venture funding from big-name investors that included Andreessen Horowitz, Microsoft, and SoftBank, among others.
It’s not clear how many people are actually at Rapid as of now, nor how many would be joining Nokia in the deal. Nokia’s statement emphasizes product more than people, noting that it is acquiring “technology assets, including the world’s largest API hub used by thousands of active developers globally, and its highly skilled research and development unit.”