From ComputerWorld: Nokia is paying 170 million euros ($191 million) to acquire French fitness gadgets company Withings in a bid to get into the digital health market.
For the Espoo, Finland company, which sold its handset business to Microsoft two years ago, and has been since mainly in the area of selling telecom equipment, the acquisition marks a strong push into connected healthcare and home products. These include activity trackers, weighing scales, thermometers, blood pressure monitors and home and baby monitors.
Nokia's brand, which is still well-regarded in many consumer markets, may aid the company as it enters new segments and starts what it describes as a "new chapter."
"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," Nokia president and CEO Rajeev Suri said Tuesday.
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