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Nokia to sell its Digital Health business to Withings co-founder

By Cookie Monster - on 3 May 2018, 12:00am

Nokia to sell its Digital Health business to Withings co-founder

Days after French media outlets reported that Nest and Samsung were interested to buy Nokia's Digital Health business, Nokia announced that it is selling the portfolio to Withings co-founder Éric Carreel.

The sale of its Digital Health business does not come as a surprise as the company announced in February that it has initiated a review of strategic options which may or may not result in any transaction or other changes. 

In case you didn't know, Nokia acquired Withings in 2016 for US$191 million. It retired the Withings brand in last summer and the name change was supposedly just the beginning. 

The deal is expected to close in late Q2 2018 and is part of Nokia's overall strategy to become a business-to-business and licensing company. 

Source: Nokia

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