advertisement
advertisement
advertisement
  • 04.26.16

Nokia is buying health tracking firm Withings for $192 million

The Finnish smartphone maker has just announced that it is buying the French health tech company. Withings originally came to be known for its Wi-Fi bathroom body scales, but in recent years moved into the fitness tracker space with products like the Go activity tracker and the Activité smartwatch line. The deal is expected to be finalized in Q3 of this year and will see all of Withings 200 employees integrated into Nokia’s Digital Health team. In a press release, Nokia CEO Rajeev Suri 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.

MG