Nokia to shop for fitness monitoring firm Withings for $191 Million

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Nokia to Buy Health Tracking Firm Withings for $191 Million

Nokia on Tuesday had struck a deal to shop for Withings S.A. for $191 million.
Withings includes Nokia’s digital truth camera and its pill computer.
Nokia in 2014 offered its handset enterprise to Microsoft.
Finnish cellular community system maker Nokia said on Tuesday it had struck a deal to buy France’s Withings S.A. for EUR 170 million ($191 million or more or less Rs. 1,271 crores) in its first circulate into themarketplace for virtual merchandise that monitor health.

Withings’ merchandise encompass hobby trackers, weighing scales, thermometers, blood stress monitorsand toddler monitors built on a digital platform.

we’ve got stated constantly that digital health become an area of strategic interest to Nokia, and we’renow taking concrete action to faucet the opportunity in this huge and essential marketplace,” Nokia CEO Rajeev Suri said in a statement.

once the sector‘s biggest mobile cellphone maker, Nokia in 2014 sold its handset business to Microsoft and carried out a string of different deals that left it focused on network equipment.

Withings could be a part of the institution‘s small Nokia technologies unit which incorporates its patent portfolio and a few purchaser merchandise, together with a digital truth digicam and a Nokia-brandedpill computer made by a 3rd party.

Withings has about 200 employees. The deal is expected to shut within the third sector.

© Thomson Reuters 2016

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