Nokia to shop for fitness monitoring firm Withings for $191 Million

Nokia to Buy Health Tracking Firm Withings for $191 Million

HIGHLIGHTS
Nokia on Tuesday had struck a deal to buy Withings S.A. for $191 million.
Withings includes Nokia’s digital fact camera and its tablet pc.
Nokia in 2014 sold its handset business to Microsoft.
Finnish mobile community device maker Nokia said on Tuesday it had struck a deal to shop for France’s Withings S.A. for EUR one hundred seventy million ($191 million or kind of Rs. 1,271 crores) in its first passinto the marketplace for virtual merchandise that reveal health.

Withings’ products encompass activity trackers, weighing scales, thermometers, blood pressure video display units and toddler monitors constructed on a virtual platform.

we’ve got said continuously that digital fitness changed into a place of strategic hobby to Nokia, andwe are now taking concrete action to faucet the opportunity on this huge and essential market,” Nokia CEO Rajeev Suri stated in a announcement.

once the world‘s biggest cellular phone maker, Nokia in 2014 sold its handset business to Microsoft andcompleted a string of different deals that left it focused on community tools.

Withings might be part of the institution‘s small Nokia technologies unit which incorporates its patent portfolio and some client products, together with a virtual reality digital camera and a Nokia-branded pillpc made through a 3rd party.

Withings has about 200 employees. The deal is expected to shut within the 0.33 area.

© Thomson Reuters 2016

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Tags: Microsoft, Nokia, Wearables, Withings