The €170 million proposed purchase of French device maker Withings confirms health is a central plank of Nokia’s Internet of Things (IoT) strategy.
Nokia CEO Rajeev Suri argued in the past that the Finnish vendor had to move from providing generic IoT platforms and pick specific industry verticals on which to focus. Healthcare was one of Suri’s picks, and here is the evidence.
Industry-specific applications and services will be where the industry spend will be, he said.
Withings is a leading player in connected health devices, building wirelessly enabled activity trackers and weighing scales, among other devices.
“Since we started Withings, our passion has been in empowering people to track their lifestyle and improve their health and wellbeing,” said Cedric Hutchings, CEO of Withings. Hutchings co-founded the firm, which employs 200 staff, in 2008.
The proposed cash transaction is expected to close in early Q3, 2016, subject to regulatory approvals and the usual closing conditions.
Withings will be part of Nokia Technologies, the Finnish firm’s advanced technology and licensing business.
“The combination of innovative products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia Technologies’ world class IPR portfolio,” said a Nokia statement.