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Nokia buys digital health company Withings for 170M euros

Nokia hopes that buying the French company will put it on the road to digital health care dominance.

The Withings Thermo is a smart thermometer for multiple users.
Tyler Lizenby/CNET

Nokia has snapped up wearable maker Withings, in a bid to boost the Finnish company's presence in the digital health market.

Withings, headquartered in Paris, has approximately 200 employees and builds smart home gadgets, wearable tech and health care devices.

Nokia, though now focused on IT and infrastructure, is best known for making phones, and at one time was the biggest mobile maker in the world. Its fortunes faded in the smartphone era however, and in 2014 completed the sale of its smartphone devision to Microsoft.

The Withings Thermo is a Wi-Fi thermometer.

Tyler Lizenby/CNET

"We have said consistently that digital health was an area of strategic interest to Nokia," CEO Rajeev Suri said in a statement, "and we are now taking concrete action to tap the opportunity in this large and important market."

Withings has been valued for the sale at 170 million euros (roughly $192 million, £132 million or AU$248 million). The acquisition is set to be completed in the later half of 2016, subject to regulatory approval, Nokia said.