Google parent Alphabet is acquiring Fitbit in a move meant to strengthen the search giant's lineup of hardware and edge it further into the health market.
Published 12:19 PM EDT Nov 1, 2019
Fitbit is officially ceding control after entering into"a definitive agreement" with Google for $7.35 per share in cash, Fitbit said in a statement about the deal Friday. The pioneering maker of fitness gear helped to revolutionize the wearables market with its step-counting device in 2007, but consumer interest has waned since Apple introduced the world to its smartwatch.Apple, Fitbit, Fossil, Samsung:Google’s hardware chief Rick Osterloh said in a blog post that the company sees"an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market.
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