Nokia is looking to re-enter the consumer electronics market with the planned acquisition of French smart health company Withings.

Withings has established itself in the smart health market through its wearable fitness trackers, connected scales and other digital health products that promote healthy living and active lifestyles.

According to Nokia, the buyout is valued at EUR 170 million ($253 million) and is expected to close in Q3 this year.

This announcement marks the first acquisition in the consumer tech market for Nokia in the past few years, with recent activity – including the purchase of Alcatel-Lucent – strengthening its position as a networking and mobile infrastructure provider.