Nokia has announced that it’s set to acquire French digital health firm Withings for €170 million ($191 million) and make it a part of its Nokia Technologies business.
Nokia will settle the deal in cash in early Q3 2016. The company says it’s optimistic about the growth of the digital health sector as well as the Internet of Things space.
Ramzi Haidamus, president of Nokia Technologies, said:
Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives. Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health.