Google buying Fitbit in bid to combat Apple Watch
On Friday, Google announced that a deal is in place to buy Fitbit for 2.1 Billion in a bid to help it fight against the Apple Watch. The deal was announced during a halt in trading early Friday. The two companies have been in talks about this deal for sometime.
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Google issued a statement, which reads, in part:
“Fitbit has been a true pioneer in the industry and has created engaging products, experiences and a vibrant community of users,” Google’s Rick Osterloh said in a statement. “By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world.”
No word on when (or if) this deal will be finalized.
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