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Nokia finalises €170 million Withings buyout

You thought Nokia was dead right? Not so – the Finnish phone giant has just closed the deal to buy Withings for €170 million, just a month after it announced a takeover was on the cards.

Withings is the creator of the stylish Activité analogue-esque hybrid watch / fitness devices, as well as a whole host of connected health products. It announced a new E Ink tracker at CES, along with a smart thermometer, and its connected product range also includes an air quality detecting smart camera, a blood pressure monitor and a sleep system.

Cnet has reported that Withings’ CEO Cedric Hutchings will head up Nokia’s Digital Health business unit.

Withings Activité Steel
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“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,” said Ramzi Haidamus, president of Nokia Technologies.

“The Nokia brand is synonymous with innovation, connectivity and consumer technology and the acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space. We’re excited to welcome the Withings team to the Nokia family.”

We are inclined to agree. Withings is a brand that seriously ‘gets’ the connected health movement and we’re of the opinion that €170 million looks like a serious bargain for Nokia. No wonder they finalised the deal so quickly.

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