Nokia has today announced that it will be acquiring the French company Withings, well known for its range of health and fitness tracking products such as the WiFi Body Scale, Pulse O fitness tracker and Activité watch.
Withings launched back in 2008 and now Nokia would like to add the company to its portfolio and “accelerate entry into Digital Health” market, for a price of $191 million.
Rajeev Suri, president & CEO of Nokia explained in todays press release :
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.
Ramzi Haidamus, president of Nokia Technologies added :
Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives. 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.
For more information on the news of the acquisition of Withings by Nokia jump over to the Nokia press release website for details via the link below.
Source: Nokia