According to a new report from VRJournal, Nokia made it official on Tuesday. The company is acquiring Withings, a leader in the connected health revolution.
The deal, which will likely close in the third quarter of this year, is worth a reported $191 million.
“We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market,” Rajeev Suri, president & CEO of Nokia was quoted in a statement emailed to VRJournal.
“With this acquisition,” Suri adds, “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 says that the combination of products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia’s “world class IPR portfolio.”