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 Cheerz by Aramisauto and Cewe [DB:CWC] respectively.
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.
