Programmatic Lunch

Nokia Acquires Smart Health Firm Withings for €170m

Alex Spencer

WithingsNokia has acquired smart health firm Withings for €170m (£132m) in cash.

Withings – which has released a range of connected weighing scales, blood pressure monitors, baby monitors and activity trackers since it was founded in 2008 – will be folded into the Nokia Technologies business.

The company has approximately 200 employees spread between France, the US and Hong Kong. Whether these offices will be kept open under the new leadership is currently unclear.

"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," said Rajeev Suri, president & CEO of Nokia. "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."

The acquisition is expected to close in early Q3 2016.