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Fitbit is Bought by Google for $2.1 Billion

Fitbit has been known to be looking for a sale and Google had the first bid.

  • Fitbit became famous for creating wearable technology that helps in monitoring a person’s health
  • Google has bought the company in an all-cash deal for $2.1 billion
  • With the purchase, this gives a better opportunity for the future of Wear OS

Technology is advancing every single day, from advancement in computers and improvement regarding the function of smartphones. Slowly but surely, gadgets that you can wear on you, or called “wearables” are also slowly becoming popular, including Fitbit.

Fitbit is famous for manufacturing wearable gadgets for monitoring a person’s health

Fitbit is the brand that manufactures wearable devices that help in tracking a person’s health like tracking your steps, heart rate, among other things. These became popular when they were first released and were bought by those who are careful of their health. Back in December 2018, they were considered as the third largest company that sells wearables during the third quarter of 2018, with Xiaomi and Apple above them.

From an article by Endgadget, it was recently announced that Google has bought Fitbit with an all-cash deal. The amount that was negotiated was $2.1 billion.

Fitbit CEO James Park said that with this move, they hope that the tech regarding wearables can improve faster using Google’s resources. It is also seen that with the hardware from Fitbit and the software made by Google, Wear OS may just improve further in the future.

Google has bought Fitbit with a deal amounting to $2.1 billion

It has been rumored for the longest time that Fitbit was going for sale, and Google’s parent company, Alphabet, was looking to buy them immediately. The deal between the two companies is expected to close by 2020.

With this move, and the fact that personal tech is also now slowly moving to wearables like with Apple and their Apple Watch, we may be able to expect great things from Fitbit from this point.

 

Also read: AirPods Pro Announced by Apple and Will Be Available on October 30

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Written by Drew Tetangco

An anime lover and an avid toy collector. He transforms into a wordsmith by night.

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