Alphabet has been inquiring about the eventual acquire of Fitbit for very some time, but the most recent reports reveal the parent of Google has submitted an official supply for the wearable firm. The agency is saying there is no certainty this supply would lead to any deal and the cost can not be discovered.
The acquisition of Fitbit could imply Google will lastly have a group in a position to create a Pixel Watch that can compete in the wearable market place. Presently, Google only offers the Put on OS to third parties and this could enable it expand its hardware portfolio.
When the news broke, Fitbit shares rose more than 30%. The wearable firm has noticed investor interest dwindle, especially following cutting is 2019 income forecast back in the summer season. It is experiencing disappointing sales of its most recent items Versa Lite that begins from $160/160 and the Versa two with integrated Alexa.
Reuters reminded that back in January Google currently acquired Fossils smartwatch-associated intellectual home. The cost was $40 million, but Google is but to reveal what is it organizing to do with it.