Nokia Set To Acquire Withings For €170 Million

By 03:33 Mon, 02 Aug 2021 Comments

Nokia is not ready to leave the consumer market and while its tablet efforts haven't gone far, it's now moving into the health-tracking business by acquiring Withings.

You may know the company for its Activite smartwatches, but the it also produces smart scales, blood pressure monitors, baby monitors, home security cameras and more.

"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 create a meaningful incompatibility in peoples' lives." says Rajeev Suri, president and CEO of Nokia.

Nokia will pay €170 million ($192 million) for Withings, the deal is expected to close in early Q3 (subject to the usual regulatory approvals, of course).




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