Clipperton is pleased to announce it advised co-founder Eric Carreel with respect to the acquisition of connected health leader Withings from Nokia Corporation.

Clipperton has acted as sole financial advisor to Eric Carreel.

  • The transaction exemplifies Clipperton’s positioning alongside entrepreneurs as well as its strong expertise in the broad internet of things industry.
  • Clipperton previously advised Withings in a $30 million Series-B round closed in 2013 with Idinvest Partners, Bpifrance, 360 Capital Partners and Ventech.
  • Clipperton announces yet another M&A cross-border transaction in 2018 following the acquisitions of Cardoen and Cheers by Aramisauto and CEWE [DB:CWC] respectively.

Paris – June 2018 – Leading European corporate finance firm Clipperton is pleased to announce that it acted as the financial advisor to Eric Carreel in the acquisition of Nokia’s Digital Health division (fka Withings), the global leader in connected health technologies.

Eric Carreel and Cédric Hutchings co-founded Withings 10 years ago with the innovative idea to combine French elegance and cutting-edge technology to create connected products for health and prevention. The company rapidly met success, bringing to consumers a broad range of award-winning products amongst which connected scales, activity tracking watches, and wireless blood pressure monitors. Under Nokia’s ownership, the company continued to introduce innovative products on the market such as sleep monitoring solutions. Doing so, Withings empowered millions of users to regain control over their health and change their lifestyle in order to prevent the occurrence of certain chronic diseases.

Eric Carreel welcomed this opportunity to take back the company with ambitious and innovative projects in mind: “I am delighted to start working again with the brilliant teams that made the brand such a great success. We have an exciting challenge ahead of us as we continue to push the boundaries of connected health”.

Since the early days of Withings Eric Carreel has always been driven by the strong conviction that prevention and daily monitoring will bring tremendous benefits to individuals in both the short and long-terms. He envisions to launch by the end of 2018 a new cycle of innovation and to develop new connected health products that will sold under the Withings trademark: “we are still only just starting to discover what connected health can really bring to people. From now on we must concentrate our efforts on developing tools capable of advanced measurements and the associated services that can help prevent chronic health conditions. Today’s technologies allow us to imagine solutions that have the potential to benefit the lives of millions of people, and our ambition is to ensure that we, as Withings, lead the way with technological advances and intuitive designs.”

To make this vision a reality, Withings relies on a team of more than 200 highly-skilled engineers, developers, managers, and technicians who contributed to turn the company into a global leader in connected health.

For more information, please contact:

  • Nicolas von Bulow, Managing Partner: nvonbulow@clipperton.net
  • Antoine Ganancia, Partner: aganancia@clipperton.net
  • Martin Vielle, Vice-President: mvielle@clipperton.net

About Clipperton

Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 250 high profile transactions globally. For more information, visit www.clipperton.net