Google Acquires Fitbit for $2.1 billion

There were speculations that Facebook will be acquiring the Fitbit company, but all of a sudden Google has offered the highest amount $2.1 billion in cash to buy Fitbit.

And, finally Google has officially announced that they’ve acquired Fitbit, a well known brand in the wearable market, for $7.35 per share.

Google is seeing this as an opportunity to enter into the wearable market and has plans to launch their own smart wearable devices into the market in the coming months.

Google also further revealed that, they will be totally transparent about the data they’re going to collect and why they’re collecting it.

The users will also be given an option to review, move or delete their own data.

And, Google in no way is going to sell personal information to anyone and use Fitbit health and wellness data for displaying Google ads.

Google earlier has tried to capture the wearable market with its WearOS but due to poor hardware capabilities, it didn’t click.

And, since Fitbit’s hardware capabilities are strong, Google is looking to launch a smartwatch that can create a lasting impact on the market.

“By working closely with the experts at Fitbit’s team and with the combination of AI, software and hardware, we’ll be creating the innovative wearable devices to benefit more people in the world,” said, Rick Osterloh, Senior Vice President, Devices & Services, Google in a statement.

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