Nokia buys France’s Withings for €170M to ramp up in health tech and IoT

By April 26, 2016 Portfolio, Exit

Nokia’s history as the world’s biggest mobile phone maker is becoming a distant memory, but it’s not out of the gadget business just yet. To build out its health technology business, the company today announced that it has acquired Withings, makers of smart scales, activity trackers, and other health gadgets. Withings is based out of France, and with Nokia in Finland, the transaction was in euros: €170 million to be exact, or around $192 million in U.S. dollars.

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