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Nokia finalizes deal to purchase French digital health company Withings

Xinhua, June 1, 2016 Adjust font size:

Finnish telecommunications company Nokia announced on Tuesday it had finalized the acquisition of the French digital health firm, Withings.

Through the acquisition, Nokia Technologies established a new digital health business unit led by Cedric Hutchings, the former CEO of Withings, said Nokia.

The new unit brings together Withings' employees with experts from Nokia's preventive health and patient care teams, which have already operated under the umbrella of Nokia Technologies.

Set up in 2014, Nokia Technologies focuses on digital health, digital media, brand and patent licensing. The branch is currently responsible for developing and producing Nokia's N1 tablet and professional virtual reality camera OZO.

Based on Withings' existing products, including activity trackers, body analyzer scales, thermometers, blood pressure monitors, home and baby monitors. The digital health component of the company will continue to design products for healthy lifestyles, according to Nokia.

"This is the beginning of an exciting new chapter in the history of Nokia Technologies as we extend our product portfolio to include a series of powerful digital health technologies," said Ramzi Haidamus, president of Nokia Technologies.

"The acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space," he added.

Late April, the company announced its plan to purchase Withings. The purchasing price is 170 million euros (about 189 million U.S. dollars), which will be paid in cash.

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