With the acquisition of Cambridge, Mass.-based Withings SA, a digital health connectivity firm, Nokia, once the largest maker of cell phones, appears to be doubling down on intentions to become a bigger player in the mobile health market, The Wall Street Journal reports.
Withings develops a line of "smart" products designed to track health and behavioral data from users. Nokia, which reported about $1.4 billion in profits for 2015, valued the Withings purchase at about $191 million, according to WSJ.
Cedric Hutchings, co-founder and CEO of Withings, told WSJ the two companies plan to integrate their connected health research with one another, with the ultimate goal of accelerating product development and staying competitive in a growing market.