Google acquiring Fitbit a US-based fitness company
"Google acquiring Fitbit for $7.35 per share in cash which comes at a value of approximately $2.1 billion."
Lack of update and support from Google has caused development in Wear OS stale. Where wearable devices from Apple and Samsung are doing great, Google’s Wear OS platform has been struggling to compete. To change this scenario, Google has started the procedure of acquaring the US-based fitness company Fitbit.
For this Google’s Senior VP of Devices and Services said “This agreement underscores our belief in how important wearable tech has become, and it’s also an exciting opportunity for Wear OS,” “We’re looking forward to collaborating with Fitbit to bring the best of our smartwatch platforms and health applications together, and enabling our partners to build the next generation of wearables.”
Google and Fitbit made an agreement of acquiring Fitbit for $7.35 per share in cash which comes at a value of approximately $2.1 billion. The transaction is expected to be completed in 2020. Will we soon see Google branded Smartwatch and fitness bands? We will have to wait and see.
Biplav Gachhadar
