For the creators and funders of a start-up, there are only two ways to cash a return on their investments: IPO – which is becoming increasingly scarce and difficult – or whether to sell bigger than itself possibly already bringing considerable income but especially his experience of a market and its technologies in his luggage
Stamped nugget of French Tech, the pioneer. Withings connected objects just opt for the second option. The inventor, in 2009, the scales connected announced Tuesday its acquisition by Finland’s Nokia for $ 170 million. After selling its phone division to Microsoft in 2014 and Alcatel-Lucent acquired last year, the Finn being restructured and looking for a new lease eyeing the sector next booming welfare and health connected . That is the heart of the Withings activity. After booking platform Train Train Captain acquired by its British rival tickets Trainline earlier this year to the tune of 200 million euros, Withings joins the movement of these young shoots traffic passing under foreign control.
Withings eyeing the side of the fashion and luxury
“Withings shares our vision in digital health and offers smart and well-designed products, products that help people to live in better shape “ said in a statement Ramzi Haidamus, president of Nokia Technology. This new entity within the Nordic group intends to be the new activities homing intended to expand the income of the Finnish group who still come overwhelmingly from its original business of network equipment manufacturer. California-based Nokia Technologies, which does not hesitate to present themselves as a start-up, is itself divided into three branches: a branch license and patent owner’s intellectual property assets, a branch called “digital media” selling items online as soon a virtual reality camera and a “digital health” in which branch will be housed 200 employees Withings. These are located mainly in Issy-les-Moulineaux (170 people) but also in Hong Kong and Boston, one of the main centers of R & amp; Medical D overseas
Founded in 2008. by two french engineers, Eric Carreel – who worked on the launch of the first box of Orange – and Cedric Hutchings, Withings is a regular at the CES (Consumer Electronics Show) in Las Vegas, where its products were often rewarded. After the connected scales, Withings was among the first to launch on the market today accelerated commoditization pathway “trackers” activity and offers for some less wake of a new genre combining both a sensor sleep and light and sound programs. But the company is also eyeing the side of the fashion and luxury with an elegant watch connected to the old dial and hands to stand out from the myriad of objects to digital screens. A range that continues to expand and beyond clean gadgétique appearance quantity of these new son in the leg measuring our physical performance, is also interested in real health applications, such as with a blood pressure logged. According to Les Echos , which relate the feedback of anonymous sources, the company would realize a hundred million annual turnover of euros. Avaricious information on revenues, like Withings however highlight its very international dimension since 90% of its sales come from abroad, Europe accounting for only 10% of its business. This acquisition brings new ways, the dream company to establish itself as the world leader in the connected health. A protean market already crowded with startups bloom but also giants like Apple or Google. According Statista cabinet, it could reach $ 233 billion by 2020.
Start-up of the iconic French ecosystem of connected objects, one of the largest in the world if it s’ sticks to the weight of the French delegation presents each year at CES in Las Vegas (the second most represented after the US country for two years), Withings has also benefited greatly from the financial ecosystem to support start-up set up by the public authorities. Of the 30 million total raised by the company, a third, or 11 million, were provided by the BPI in 2013. If the branch of venture capital this public structure just achieved excellent financial transaction with the Withings to resell Nokia, nothing says, however, that future developments continue to benefit employment in France or even that its 170 employees present at the headquarters of Issy-les-Moulineaux will remain unabated. “This is a very exciting time” , prefers to emphasize the CEO and founder of Withings Cedric Hutchings, who will take the lead in the new digital health unit of Nokia Technology. “ Our belief, he says, is that the market will grow tremendously and we will benefit also .” Across the Atlantic, no doubt, but in Paris? Engineers in any case there are cheaper than in Silicon Valley.
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