Nokia plans to acquire Withings to accelerate entry into Digital Health

Nokia has announced plans to acquire Withings S.A., a pioneer and leader in the connected health revolution with a family of award-winning digital health products and services to help people all over the world lead healthier, happier and more productive lives. Withings will be part of our Nokia Technologies business.

"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," said Rajeev Suri, president & CEO of Nokia. "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 shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives," said Ramzi Haidamus, president of Nokia Technologies. "Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health."

The combination of innovative products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia Technologies' world class IPR portfolio.

The planned transaction values Withings at EUR 170 million and would be settled in cash and is expected to close in early Q3, 2016 subject to regulatory approvals and customary closing conditions.

A press release ca nbe found from Nokia website.