Nokia to buy mHealth devicemaker Withings for EUR 170 mln
Tuesday 26 April 2016 | 09:20 CET | NewsNokia is expanding in the healthcare market with the acquisition of Withings, a French provider of digital health devices and services. Healthcare is expected to be one of the largest vertical markets in the Internet of Things, a key growth area for Nokia. In particular mobile health, with a CAGR of 37 percent, will be the fastest growing healthcare segment from 2015-2020, Nokia said.
Withings' portfolio of regulated and unregulated products includes smartwatches, activity trackers, weighing scales, thermometers, blood pressure monitors, and home and baby monitors. These products work over a digital health platform that provides insights to empower people to make decisions about their health and wellbeing. Withings' products are complemented by an ecosystem of more than 100 compatible apps.
Withings will become part of the Nokia Technologies business, Nokia's licensing division. Nokia will pay EUR 170 million cash for the company. The takeover is expected to close in early Q3, subject to regulatory approvals and customary closing conditions.
Via-telecompaper
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