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Nokia buys Withings

Withings Activite Steel fitness tracker, Nokia buys Withings, Withings joins Nokia
Withings Activite Steel
This deal is expected to close in early Q3 2016 and values the French company at more than $192 million.

While Nokia has faded in the last few years, it looks like they do not have plans to leave the consumer market. On the contrary, they might enter the wearables market later this year, thanks to the acquisition of French company Withings.

According to Nokia's president and CEO Rajeev Suri, "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 make a meaningful difference in peoples' lives."

Founded by Eric Carreel and Cedric Hutchings back in 2008, Withings has around 200 employees in France, US, and Hong Kong. Its portfolio spans well beyond its activity trackers, also including thermometers, blood pressure monitors, home and baby monitors, weighing scales, and more. These hardware products are also complemented by an ecosystem consisting of over one hundred compatible apps.

The transaction is valued at EUR 170 million (roughly $192 million at current exchange rate) and will be settled in cash in early Q3 2016. As it usually happens in such cases, this corporate acquisition is subject to regulatory approvals and customary closing conditions.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2016 04 > Nokia buys Withings
Codrut Nistor, 2016-04-27 (Update: 2016-04-27)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.