Nokia today completed the acquisition of Withings. The acquisition was earlier announced on April 26. Nokia bought Withings, a company that develops digital health products and services, for $190 million or 170 million Euro. With this acquisition, the Finland-originated company would strengthen its internet of things or IoT portfolio and will be able to scale up its digital health products.
The product line includes activity trackers, smart body analyzer scales, thermometers, blood pressure monitors, home and baby monitors and more, built on a sophisticated digital health platform.
Withings is now a part of Nokia technologies and will be headed by Withings’ former CEO Cedric Hutchings. He will be report to Nokia Technologies president Ramzi Haidamus.
“This is the beginning of an exciting new chapter in the history of Nokia Technologies as we extend our product portfolio to include a series of powerful digital health technologies,” said Ramzi Haidamus, president, Nokia Technologies. “The Nokia brand is synonymous with innovation, connectivity and consumer technology and the acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space. We’re excited to welcome the Withings team to the Nokia family.”
The Digital Health business unit combines the employees from Withings and experts from the preventive health and patient care teams in Nokia Technologies. The new business unit builds on the pioneering work of Withings, offering a family of award-winning digital health products designed to fit seamlessly into people’s lives, empowering them to make smarter decisions about the health and wellbeing of themselves and their families. . Together, under Cédric’s leadership, the Digital Health team will continue to design smarter products for healthy living.
“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,” Nokia CEO Rajeev Suri had said earlier when the acquisition was first announced.