After the 2016 acquisition of Withings for an estimated $191 million, Nokia plans to sell its digital health business to Éric 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 sharper focus on becoming a business-to-business and licensing company, the company said.
The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies, with the deal expected to close in late second quarter of 2018.
The 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 the sale, according to the company.