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Nokia to purchase French digital health company Withings

Xinhua, April 27, 2016 Adjust font size:

Nokia announced on Tuesday that it plans to purchase French digital health firm Withings, accelerating its entry into the digital health market.

After the acquisition, Withings will be a part of Nokia Technologies, the company's advanced technology and licensing business, said Nokia. The products of Withings will be integrated into its Digital Health business.

Set up in 2014, Nokia Technologies focuses on Digital Health, Digital Media, Brand Licensing, and Patent Licensing, and is currently responsible for developing and producing Nokia's N1 tablet and professional virtual reality camera OZO.

With the purchase of French Withings, Nokia speeds up its entry into the digital health market.

The purchase price is 170 million euros (about 191 million U.S. dollars), which will be paid in cash. The deal is expected to close in the third quarter of 2016.

Founded in 2008 and headquartered in Issy-les-Moulineaux, France, Withings is a consumer electronics company, producing scales, activity trackers, monitoring cameras, sleep cameras and thermometers. Endit