Nokia Technologies plans to acquire Withings S.A., a french manufacturer of activity trackers like the Pulse Ox and the Activité, weighing scales, thermometers, blood pressure monitors, home and baby monitors and other digital health care products. The acquisition of Withings allows Nokia to strengthen its position in the world of IoT (Internet of Things).
Healthcare is expected to be one of the largest vertical markets in the Internet of Things. Analysts are forecasting that mobile health will be the fastest growing health care segment from 2015-2020.
“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.“
Nokia will buy Withings for EUR 170 million in cash; the deal is expected to close in early Q3, 2016.