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Nokia to Acquire Withings for Health and Fitness Push

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Apr 26, 2016, 8:06 AM   by Eric M. Zeman   @zeman_e

Nokia today said it plans to acquire Withings for about $192 million in cash. Nokia hopes the acquisition will help it make a stronger push into the markets for wearables and the internet of things. Withings, based in France, has a wide range of connected products, including scales, activity trackers, thermometers, home monitors and more. The company also has a robust platform in place to manage these products and a larger ecosystem of compatible devices. "We are now starting a new chapter as a company," said Ramzi Haidamus, President Nokia Technologies, "this one focused on connecting you to better health through technology." Nokia has changed dramatically over the last few years. It sold its handset business to Microsoft, sold its HERE Maps division to a consortium of German car makers, and acquired Alcatel-Lucent to shore up its core networking business. Nokia expects to close its acquisition of Withings during the third quarter of the year.

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