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Google Acquires Fitbit for $2.1 Billion in an All Cash Deal

Posted on the 01 November 2019 by Gadgetscanner @jdsoni7
Google acquires Fitbit for $2.1 billion in an all cash deal

As rumoured, Google has announced that it plans to buy the fitness wearable maker Fitbit for an all-cash deal of $2.1B.

At this price point, Fitbit is Google's one of the largest acquisitions ever and will become a part of Google's hardware team making new fitness wearables.

Though, Google already makes a lot of devices including the Pixel phones, Chrome Cast, Chromebooks, Nest Devices and smart speakers, its the smart wearable segment where the search engine giant was lacking.

Despite having a dedicated OS Wear OS for wearables, Google's smartwatch segment is no competition in front of Apple Watch.

"With Google's resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone," Fitbit co-founder and CEO James Park said.

Park along with Google's hardware chief Rick Osterloh, made a few statements from which we can safely say that future Fitbit devices will run Wear OS. Osterloh said that the deal is an "opportunity to invest even more in Wear OS, as well as introduce Made by Google wearable devices."

The acquisition is expected to be completed by the year 2020, pending approval from regulators and Fitbit shareholders.

While both Google and Fitbit said that, "Fitbit's health and wellness data will not be used for Google ads," current Fitbit users will have the option to review, more or delete their data after the acquisition.

Google acquires Fitbit for $2.1 billion in an all cash deal

I've always been interested in Gadgets and stuff around technology. I got hooked to Android when I bought my first Android Smartphone around 2008/09. Mobile technology has been my first priority ever since. Other than technology I also enjoy Photography, watching movies and socializing with my friends and family. Follow us on Twitter and Facebook

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