Nokia has announced plans to buy Withings, to accelerate its entry into the digital health market.
Nokia has announced plans to acquire Withings, 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.
“Since we started Withings, our passion has been empowering people to track their lifestyle and improve their health and well-being,” said Cédric Hutchings, CEO of Withings. “We’re excited to join Nokia and help bring our vision of connected health to more people around the world.”
Withings was founded by Chairman Eric Carreel and CEO Cédric Hutchings in 2008 and is headquartered in France, with approximately 200 employees across its locations in Paris, Cambridge MA, US and Hong Kong. Withings’ portfolio of regulated and unregulated products includes activity trackers, weighing scales, thermometers, blood pressure monitors, home and baby monitors and more, and is built on a sophisticated digital health platform, providing insights to empower people to make smarter decisions about the health and wellbeing of themselves and their families. Withings’ own products are complemented by an ecosystem of more than a hundred compatible apps.
“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 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. Upon completion, a new Nokia Digital Health business unit will be headed by Cedric Hutchings and will continue to further the shared vision of Nokia and Withings.
