Google to Acquire Fitbit for ~$2.1B

Google to Acquire Fitbit for ~2.1B

Shots:

  • Google to acquire Fitbit in all-cash transaction for $7.35/share, making the total deal value $2.1B. The transaction is expected to be closed in 2020
  • The acquisition will provide Google an opportunity to invests more in Wear OS as well as to introduce its wearable devices into the market. By joining Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables and make it accessible to everyone
  • Fitbit’s focus on fitness tracking will be integrated into Google’s existing Google Fit apps, offering an alternative to the Apple Watch’s deep fitness tracking integration with the iPhone

Source 1, Source 2 to­ read full press release/ article | Ref: Google, Fitbit | Image: e-Syndicate Network