Nokia is recently planning to acquire Withings to enter into the Digital health world. Nokia at Espoo, Finland has recently announced its plans to acquire Withings S.A., a market leader who is well-known to deliver the award-wining digital health products and services. This market leader helps people to live a healthy and more productive life. Nokia is planning to add Withings as a part of their Nokia Technologies business.
Nokia was always interested in Digital health and now they are taking their first step to enter this Digital market with a leader as per Rajeev Suri, the president & the CEO of the Nokia Company.
This acquisition will strengthen the Nokia position in the Digital Things that would increase its power and build the trust that will fit the company’s purpose of enhancing the human chances of the connected world. This will put Nokia at a large market where it will serve the people making a considerable difference in their lives.
It has been predicted that cardiovascular diseases, Diabetes, and other chronicle diseases are impacted the human life badly. Healthcare Industry is expected to take a boom and with the introduction of the Internet of Things, Nokia can help its users analyze the mobile health. So, the company is expecting to become the fastest growing company from 2015-20 containing this health care segment.
Ramzi Haidamus, the president of Nokia Technologies said that Withings have the same vision of digital health as Nokia and their product range is also smart, well-designed and helping people live their life a healthier way. Nokia is expecting high with the Withings and is depending upon their high-class product and customer strength that can help Nokia lead the future wave of Digital Health.
Nokia will combine the new Withings products and their Digital Health business to promote their ongoing IPR portfolio.
Withings, founded in 2008 by the Chairman Eric Carreel and the CEO Cedric Hutchings is headquartered at France, employing 200 staff at different locations including Paris, Cambridge, France, US and Hong Kong.
The Nokia is a well-known brand and is recognized for its valued and trusted products by the consumers. This company uses innovative technologies and provides amazing services to the people connected with it.
Nokia is planning transaction values of EUR 170Million for Withings and this deal would be settled in cash and the company is expecting to close the deal by the early Q3, 2016 quarter.