Google Acquires Fitbit for USD 2.1 Billion
Google has finally completed the acquisition of Fitbit, a smart wearable company. The deal was finally closed almost a year after which it was initially announced.
- Google has acquired Fitbit for USD 2.1 billion.
- The deal has been finalized amidst the ongoing probe by Australian and the US competition regulators to find out if Google will use Fitbit data to personalize advertisements and expanding its market.
- Google has been trying to make big in the smart wearables sector for a very long time. It started its efforts in 2019 by acquiring Timex smartwatch technology for 40 million dollars.
- However, Google failed to compete with Apple through Timex smartwatch technology.
- Now, this acquisition of Fitbit will establish Google as a health tracker wearable company.
- After the acquisition, Fitbit founder James Park said that the company will continue to work with both Android and iOS devices.
Fitbit is an American fitness and consumer electronics company. It was founded in the year 2007. Since its formation, Fitbit has sold around 120 million devices across 100 countries. The company is headquartered in San Francisco, California.
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