Fitbit to Get Acquired by Google for USD 2.1 Billion
According to published media reports, Google has agreed to buy Fitbit for $2.1 billion in a move giving the US tech giant entry into the wearable technology space, the two companies announced.
The move comes with Google seeking to expand beyond its core business of online search into hardware, and with Fitbit struggling against rivals including Apple.
“We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life,” Fitbit co-founder and chief executive James Park said in a statement by the two firms announcing the deal.
“Google is an ideal partner to advance our mission. Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could not be more excited for what lies ahead.”