Wednesday, 2 May 2018

Nokia to sale its Digital Health business to co-founder of Withings

Nokia on Wednesday announced plans to sell its Digital Health business to √Čric Carreel, co-founder and former chairman of Withings.

Nokia announced a review of strategic options for the Digital Health business in February 2018. The planned sale is part of Nokia's honed focus on becoming a business-to-business and licensing company.

The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies (France) SA., with the deal expected to close in late Q2 2018.

Digital Health's business portfolio includes consumer and enterprise products, and it manufactures and sells an ecosystem of hybrid smart watches, scales and digital health devices to consumers and enterprise partners.

The licensing businesses of Nokia Technologies are not affected by this announcement.

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