Technology business and former mobile pioneer Nokia says it’s planning to acquire digital health company Withings S.A this autumn. It’s put a value of €170 million (£132 million) on Withings, saying the move will help accelerate its entry into the digital health sector.
Rajeev Suri, president and CEO of Nokia, said "We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market. With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples' lives."
Withings was founded in 2008 and is based in France, with approximately 200 employees worldwide. It makes a wide range of health-related electronic products including activity trackers, weighing scales, thermometers, blood pressure monitors and baby monitors.
[Nokia blog post; Withings statement]