Nokia announces the acquisition of Withings, and points to the Digital Health

Nokia today announced its decision to acquire the French startup Whithings, whose name is associated with the range of products that fall within the macro category of Digital Health, a sector to which the Finnish company aims declared in a manner with the recent financial operation. The estimated value of Whitings amounts to 170 million euro, while the finalization of the agreement, subject to the usual approval process by the relevant authorities, is expected early in the third quarter of 2016. With this acquisition, Nokia strengthens its location in the Internet of Things industry and comes into possession of valuable resources that could be used in the Digital Health market.

Whithings developed in rich portfolio products incorporating activity trackers, scales, thermometers, pressure gauges and systems for home monitoring. Not only products, but also a digital platform that collects and processes data transmitted from the devices and sent from compatible apps. It is not yet entirely clear how Nokia will use the borrowed resources from Whithings, but there are also interesting references in the press release that announces the acquisition. The first reference is to innovation in the digital health sector.

We have always said that the Digital Health is an area of ​​strategic interest for Nokia, and now we are taking concrete steps to exploit the opportunities in this large and important market

Secondly, Nokia adds:

The combination of innovative products of Whithings and business of Digital Health will also ensure renewal of the portfolio of intellectual property rights of Nokia Tecnhnologies

In a more (through the marketing of products Whithings) or not (through licensing of patents on products Digital Health) Nokia chooses, then, to enter a market segment from the good growth prospects. The activities will be carried out by Nokia Technologies, the Finnish company's division that deals with the development of new products and the enhancement of patents park.

Nokia Technologies, along with Nokia Networks, forms the core of the current corporate structure of Nokia, after the decision to sell the mobile division at Microsoft and Here, the historical division maps and map services, the group of German automakers. Disposals of business units that have apparently provided to Nokia's capital and opportunities to invest in different sectors from those who, until a few years ago, had helped to make the extremely popular brand in consumer. A still recognizable brand and known that could be affixed to future digital health products, even if, for now, no significant details about it. As pointed out by Cédric Hutchings, CEO of Whithings:

As soon as the agreement is concluded, it will be possible to start working together to determine how to proceed.