Nokia completes $190M acquisition of Withings well being gadget maker

Nokia completes $190M acquisition of Withings health gadget maker

Again in April Nokia introduced it was shopping for well being and health targeted gadget maker Withings for €one hundred seventy million (~$190M). On the time it was anticipating the acquisition to shut in Q3 however it has now confirmed the shut of the transaction forward of schedule.

Following the acquisition, Withings co-founder and CEO Cedric Hutchings has been made head of a brand new Digital Well being enterprise unit at Nokia, reporting to Ramzi Haidamus, president of Nokia Applied sciences — the corporate’s R&D and IP licensing division.

Nokia additionally flags up present experience in “preventive well being and affected person care” in its Nokia Applied sciences division, which it stated it intends to construct on with the acquisition of Withings’ shopper well being gadget and digital well being platform enterprise.

Withings makes of vary of principally health targeted devices, corresponding to its Go exercise tracker, which has an e-ink display and tracks steps, sleep, operating and swimming and boasts an eight-month battery life, and its Activité vary of health monitoring watches (which sync with a companion app); together with extra specialist well being tech gadgetry — comparable to a wi-fi blood strain monitor, a wi-fi related thermometer and a related child scales.

In a press release on the shut of the acquisition Haidamus dubbed the well being area a “big alternative”. Whereas Nokia’s main enterprise stays networking and backhaul know-how, digital well being has been one of many said areas of focus for its Nokia Applied sciences division, together with digital media and model and patent licensing.

“That is the start of an thrilling new chapter within the historical past of Nokia Applied sciences as we prolong our product portfolio to incorporate a collection of highly effective digital well being applied sciences,” added Haidamus.

The Withings acquisition shouldn’t be the one shopper gadget targeted transfer by Nokia this yr. Final month it revealed its route again into the cellular units market — by way of an unique model licensing association with a newly established Finnish firm that intends to produce a variety of Nokia-branded smartphone and tablets.