Nokia completes €170m acquisition of Withings

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Digital Health business unit established to offer wide range of connected products from trackers to blood pressure monitors 

Nokia has completed its €170 million (£131.7 million) acquisition of connected health company Withings.

The deal, which was first announced on April, was due to be finalised in Q3, but has been accomplished sooner than expected.

As a result, Nokia Technologies has established a new Digital Health business unit led by former Withings CEO Cédric Hutchings.

This team combines employees from Withings and experts from the preventative health and patient care teams at Nokia Technologies.

It offers a range of digital health products such as activity trackers, smart body analyser scales, thermometers, blood pressure monitors and home and baby monitors.

Nokia Technologies president Ramzi Haidamus said: “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.

“The Nokia brand is synonymous with innovation, connectivity and consumer technology and the acquisition of Withings puts us in a perfect position to capitalise on the huge opportunity in the health space.”

Nokia Technologies will also be hosting an invitation-only event in San Francisco on June 9 to share its vision for digital health and showcase its products, coinciding with the opening of its office in the Bay Area of the city.

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