Nokia has announced plans to acquire Withings S.A., a pioneer and
leader in the connected health revolution with a family of
award-winning digital health products and services to help people
all over the world lead healthier, happier and more productive
lives. Withings will be part of our Nokia Technologies business.
"We have said consistently that digital health was an area of
strategic interest to Nokia, and we are now taking concrete action
to tap the opportunity in this large and important market," said
Rajeev Suri, president & CEO of Nokia. "With this
acquisition, Nokia is strengthening its position in the
Internet of Things in a way that leverages the power of our trusted
brand, fits with our company purpose of expanding the human
possibilities of the connected world, and puts us at the heart of a
very large addressable market where we can make a meaningful
difference in peoples' lives."
World Health Organization figures show cardiovascular disease as
today's number one cause of death, with more than a billion adults
around the world living with uncontrolled hypertension. Diabetes
now affects more than one in twelve adults worldwide, a four-fold
increase since 1980. Healthcare is expected to be one of the
largest vertical markets in the Internet of Things, with analysts
forecasting that mobile health, with a CAGR of 37%, will be the
fastest growing health care segment from 2015-2020.
"Withings shares our vision for the future of digital health and
their products are smart, well designed and already helping people
live healthier lives," said Ramzi Haidamus, president of Nokia
Technologies. "Combining their award-winning products and talented
people with the world-class expertise and innovation of Nokia
Technologies uniquely positions us to lead the next wave of
innovation in digital health."
The combination of innovative products from Withings and the
Digital Health business will also ensure the ongoing renewal of
Nokia Technologies' world class IPR portfolio.
Withings was founded by Chairman Eric Carreel and CEO Cedric
Hutchings in 2008 and is headquartered in France, with
approximately 200 employees across its locations in Paris, France,
Cambridge, US and Hong Kong. Withings' portfolio of regulated and
unregulated products includes activity trackers, weighing scales,
thermometers, blood pressure monitors, home and baby monitors and
more, and is built on a sophisticated digital health platform,
providing insights to empower people to make smarter decisions
about the health and wellbeing of themselves and their families.
Withings' own products are complemented by an ecosystem of more
than a hundred compatible apps.
"Since we started Withings, our passion has been in empowering
people to track their lifestyle and improve their health and
wellbeing," said Cédric Hutchings, CEO of Withings. "We're excited
to join Nokia to help bring our vision of connected health to more
people around the world."
The Nokia brand continues to be recognized, valued and trusted
by consumers, built on a heritage of beautifully designed,
innovative and reliable technology in the service of people around
the world to help real human needs.
The planned transaction values Withings at EUR 170 million and
would be settled in cash and is expected to close in early Q3, 2016
subject to regulatory approvals and customary closing
conditions.
Sources: World Health Organisation: Diabetes fact sheet;
Cardiovascular diseases fact sheet; Global Health Observatory data.
P&S Market Research, "Global Digital Health Market Size, Share,
Development, Growth and Demand Forecast to 2020." November 2015
About Nokia Technologies Nokia Technologies is Nokia's
advanced technology and licensing business. Formed in 2014, TECH
builds upon our solid foundation of industry-leading licensing and
technology R&D capabilities. By focusing on Digital Health,
Digital Media, Brand Licensing, and Patent Licensing, TECH is
expanding the human possibilities of the ever-evolving world of
technology. In 2015, Nokia Technologies launched OZO, the world's
first virtual reality (VR) camera designed for professionals.
About Nokia Nokia is a global leader in the technologies
that connect people and things. Powered by the innovation of Bell
Labs and Nokia Technologies, the company is at the forefront of
creating and licensing the technologies that are increasingly at
the heart of our connected lives.
With state-of-the-art software, hardware and services for any
type of network, Nokia is uniquely positioned to help communication
service providers, governments, and large enterprises deliver on
the promise of 5G, the Cloud and the Internet of
Things. http://nokia.com
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