Nokia announced a review of strategic options for the Digital Health business in February 2018. After rumors that Google’s Nest is looking to acquire Nokia’s Health Division, the company today confirmed that plans to sell back its Digital Health business to Éric Carreel, co-founder and former chairman of Withings. Back in 2016 Nokia acquired Withings, popular for its digital health products and services, for 170 million euros ($191 million) in cash. Last year it re-branded Withings and launched Nokia trackers, scales, vital health devices and home products under its own brand. Nokia said that the planned sale is part of Nokia's honed focus on becoming a business-to-business and licensing company. The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies (France) SA., with the deal expected to close in late Q2 2018. Value of the deal has not been revealed. Digital Health's business portfolio includes consumer and enterprise products, and it manufactures and sells an ecosystem of hybrid smart watches, scales and digital health devices to consumers and enterprise partners. The company confirmed that the licensing businesses of Nokia Technologies are not affected by this announcement.
Wednesday, 2 May 2018
Nokia to sell its Digital Health business back to Withings co-founder Éric Carreel
Nokia announced a review of strategic options for the Digital Health business in February 2018. After rumors that Google’s Nest is looking to acquire Nokia’s Health Division, the company today confirmed that plans to sell back its Digital Health business to Éric Carreel, co-founder and former chairman of Withings. Back in 2016 Nokia acquired Withings, popular for its digital health products and services, for 170 million euros ($191 million) in cash. Last year it re-branded Withings and launched Nokia trackers, scales, vital health devices and home products under its own brand. Nokia said that the planned sale is part of Nokia's honed focus on becoming a business-to-business and licensing company. The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies (France) SA., with the deal expected to close in late Q2 2018. Value of the deal has not been revealed. Digital Health's business portfolio includes consumer and enterprise products, and it manufactures and sells an ecosystem of hybrid smart watches, scales and digital health devices to consumers and enterprise partners. The company confirmed that the licensing businesses of Nokia Technologies are not affected by this announcement.
