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, and .
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, andto Microsoft.
"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.