Nokia has acquired small German mobile content software company bit-side GmbH, marking the world’s largest handset vendor’s latest investment in the Internet services space. “Acquiring bit-side enables Nokia to offer consumers the world-leading mobile location applications, such as Maps, along with routing and navigation at an accelerated speed,” said Michael Halbherr, Nokia VP and head of social location, in a statement. Both companies have worked together since 2007 and the deal is expected to close this quarter, with bit-side being integrated into Nokia’s ‘Services’ unit. No financial details were disclosed.

The move is the latest social media and communication acquisition by Nokia in the last two years, following deals with the likes of Loudeye, Twango, Enpocket, Plazes and Navteq. Nokia’s Internet services strategy is focused on key service areas such as music, games, messaging and location-based services. Last year, it announced a company reorganisation to focus on Internet services and has been pushing heavily its music strategy – known as ‘Comes with Music’ – and its ‘Ovi’ mobile Internet portal. Faced with declining handset sales this year, Nokia’s CEO Olli-Pekka Kallasvuo stressed at the company’s Q4 results last week that the company will continue to invest “at the proper pace in future growth,” with the vendor believing it has “a tremendous opportunity to capture value as the Internet services market evolves and grows.” In separate news, The Hindu Business Line today reported that Nokia is planning to set up a joint venture with HCL Infosystems to sell mobile value-added services and entertainment content directly to consumers in India.