Google to Buy Wearables Maker Fitbit for $2.1 Billion

Google to Buy Wearables Maker Fitbit for $2.1 Billion
Image Credit: Reuters.com

Google has agreed to buy Fitbit for $ 2.1 billion to give the US tech giant an entry into the field of wearable technology, the two companies announced Friday.

The move comes with Google expanding beyond its core business of online search in hardware and the Fitbit struggle against rivals including Apple.

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Fitbit co-founder and chief executive James Park said in a statement from the two firms, “We have built a trusted brand that supports more than 28 million active users worldwide to lead a healthier, more active life Trust our products. ” Declaration of Deals.

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“Google is the perfect partner to further our mission. Fitbit will be able to accelerate innovation in the wearables category, grow faster, and make health even more accessible to all. I look forward to lying more Can’t be excited. ”

The deal for pioneer of wearable technology is “one of the best hardware, software and AI to make wearables to help even more people around the world,” said Rick Osterloh, Google’s senior vice president for devices and services. Putting together.”

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While Fitbit was among the first to popularize the fitness band, it has lost ground to rivals in recent years.

A survey conducted by research firm IDC for the second quarter of 2019 found Fitbit to rank fourth in China’s Xiaomi-led market, followed by Apple’s position in the global market, which makes leading smartwatches – and Chinese -Based Huawei.

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