Planned sale of Digital Health to Withings co-founder Éric Carreel would be part of Nokia’s shift to become a business-to-business and licensing company. Deal expected to close in late Q2 2018.
Nokia is planning 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 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.