With this deal, Nokia plans to accelerate its entry into Digital Health.
The transaction – to be settled in cash – is expected to close in early Q3, 2016, subject to regulatory approvals and customary closing conditions. Upon completion, a new Nokia Digital Health business unit will be headed by Cedric Hutchings.
Co-founded by Chairman Eric Carreel and CEO Cédric Hutchings in 2008, Withings offers regulated and unregulated products including activity trackers, weighing scales, thermometers, blood pressure monitors, home and baby monitors complemented by an ecosystem of more than a hundred compatible apps built on a digital health platform, providing insights to empower people to make improved health and wellbeing decisions,
The company employs approximately 200 employees across its locations in Paris, Cambridge MA, US and Hong Kong.