Nokia to Acquire Health Tracking Firm Withings in $192 Million Deal

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Nokia this morning announced it will buy French health tracking company Withings for an estimated $192 million, as the company seeks to re-establish itself in the consumer electronics market.

Withings makes iOS-compatible smart connected home products as well as a range of health and fitness wearables such as the Go activity tracker and its stylish Activité smartwatch range. The company's products sync with its Health Mate iOS app, which lets users track their activity, weight, and food consumed, and interact with friends to reach fitness goals, among other features.

withingsactivite
Nokia has focused on its network equipment business and commercial VR solutions since it sold its mobile division to Microsoft in 2013. The Finnish firm's most recent high-profile product announcement was its $60,000 Ozo VR capture camera aimed at the film industry, but the latest announcement marks a significant shift for the company as it looks to expand into consumer digital health and the Internet of Things sector.

President and CEO of Nokia Rajeev Suri commented on the acquisition in a press release announcing the move.

We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market. 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.

The acquisition will see Withings' 200 employees integrated into Nokia Technologies when the deal goes through later in the year.

Top Rated Comments

Mr. C. Avatar
60 months ago
I’m hoping for the best. I’ve so far liked the Withings ecosystem better than others by competitors.
Score: 6 Votes (Like | Disagree)
beanbaguk Avatar
60 months ago
This is crap news. I'm a massive Withings fan and I have so far loved their products.

I've got the scales, a couple of activités (one for me and one for the wife), the webcam and the blood pressure monitor. It's all excellent stuff.

Nokia will just add red-tape and bloat to the organisation and slow down innovation and progress. Not happy.
Score: 6 Votes (Like | Disagree)
norge Avatar
60 months ago

I didn't realize Nokia was in a position to buy something that expensive.

Nokia has bought Alcatel-Lucent at the beginning of this year this was round about 17bn $ so this is just peanuts....
Score: 5 Votes (Like | Disagree)
modeyabsolom Avatar
60 months ago

I don't think Samsung is lacking the ability to track health. More like they acquired this company to make a fashionable watch. Because their watches are like Casio of smartwatch, as opposed to Apple they're marketing it as a luxurious and premium.

What are you on about? It's Nokia not bloody Samsung! Oh and your user name is offensive.
Score: 3 Votes (Like | Disagree)
ipedro Avatar
60 months ago
I'm officially nervous. I really like Withings and own several of their health and home products and planned to build out my smart home with more of them.

Considering what happened to Nest after it was acquired, I'm concerned that Nokia will pick a side and close out some of their customers.

That said, Nokia is an innovative company and not necessarily tied to an operating system overlord. Maybe this will be a good thing. I just hope they don't disrupt the good thing that Withings has going.
Score: 3 Votes (Like | Disagree)
Dr.Chroma Avatar
60 months ago
Nokia could be a contender down the road. They have watched all the big players and hopefully will learn from their mistakes. Nokia has been around for a long time. New market, let's see what happens.
Score: 3 Votes (Like | Disagree)

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