Withings acquired by Nokia: A Reverse takeover

Nokia has announced his plan to acquire Withings. French electronics outfit Withings, makes a wide range of smart home and wearable products. For example web-connected scales, high-tech thermometers and the Activité smart watch.

The deal values Withings at 170 million euros, or around $191 million. It may help Nokia to push into several of the hottest markets in tech. For example, The Internet of Things, wearable, and mobile health.

Withings acquired by Nokia
Withings Activité, IFA 2015

“Nokia is paying the bill, but it’s really Cedric [Hutchings, CEO of Withings] and his team that will come into Nokia and run the whole show.” Haidamus told MobiHealthNews.

Withings will become part of Nokia Technologies. When the deal is finalized later this year, will operate as part of a new Nokia Digital Health division. Withings co-founder and CEO Cedric Hutchings will lead the new unit.

“Digital health was an area of interest to Nokia. We are now taking action to tap the opportunity in this large and important market.” said Rajeev Suri, president & CEO of Nokia.

We have a big vision to create “smarter products for healthy living“. A family of devices, working together to keep you and your loved ones well. I’m thrilled about this opportunity. To unite our teams to create a world-class group of innovative and committed professionals.

“With this acquisition, Nokia is strengthening its position in the Internet of Things. It fits with our purpose of expanding the human possibilities of the connected world. It puts us at the heart of a large market where we can make a meaningful difference in people’s’ lives.”

When we were approached by Nokia, it was inspiring to discover how perfectly aligned our visions are. Together, we believe we can transform the world.” Said Cédric Hutchings, CEO, Withings in a post.

He added “We’ve been impressed with the plans the Nokia team. They have plan for Preventive Health and Patient Care. Once the deal is closed, we can start working together to determine our way forward as one team with a broad, but focused portfolio of incredible products and innovations.”

Nokia sold his Phone business to Microsoft in 2014. Nokia phones are now called Lumia in Microsoft. This deal freed Nokia to focus on its networking equipment business. Nokia completed a merger with its fellow networking gear provider, Alcatel-Lucent, giving it a better stability.

Now the deal with Withings will allow Nokia to re-enter the consumer market. Nokia hopes an explosive growth in the IoT (Internet of Things) segment.

SHARE
A freelance Technical Writer, worked as a Software and Web Developer, a Product Support Specialist in World Wide Web, experienced in Digital Marketing and a Technical Journalist in computer publishing industry.