Stock Exchange Release
May 31, 2016 at 15:00 (CET +1)
Nokia completes the acquisition of Withings
Espoo, Finland - Nokia today announced that it has closed the acquisition of Withings S.A. earlier than had been expected. Through this acquisition, originally announced on April 26, 2016, Nokia Technologies has established a new Digital Health business unit led by Cédric Hutchings, formerly CEO of Withings, who reports to Ramzi Haidamus, president of Nokia Technologies.
The Digital Health business unit combines the talented employees from Withings and experts from the preventive health and patient care teams in Nokia Technologies. The new business unit builds on the pioneering work of Withings, offering a family of award-winning digital health products designed to fit seamlessly into people's lives, empowering them to make smarter decisions about the health and wellbeing of themselves and their families. The product line includes activity trackers, smart body analyzer scales, thermometers, blood pressure monitors, home and baby monitors and more, built on a sophisticated digital health platform. Together, under Cédric's leadership, the Digital Health team will continue to design smarter products for healthy living.
"This is the beginning of an exciting new chapter in the history of Nokia Technologies as we extend our product portfolio to include a series of powerful digital health technologies," said Ramzi Haidamus, president, Nokia Technologies. "The Nokia brand is synonymous with innovation, connectivity and consumer technology and the acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space. We're excited to welcome the Withings team to the Nokia family."
On June 9, Nokia Technologies will be hosting an invitation only event in San Francisco to share its vision for digital health and showcase its products, coinciding with the opening of its San Francisco office, in the heart of the Bay Area.
About Nokia Technologies
Nokia Technologies is Nokia's advanced technology and licensing business. Formed in 2014, TECH builds upon our solid foundation of industry-leading licensing and technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand Licensing and Patent Licensing, TECH is expanding the human possibilities of the ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the world's first virtual reality (VR) camera designed for professionals.
Nokia is a global leader in the technologies that connect people and things. Powered by the innovation of Nokia Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives.
With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. www.nokia.com
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RISKS AND FORWARD-LOOKING STATEMENTS
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Source: NOKIA via Globenewswire