Google has decided it’s going to acquire the Fitbit company which costed them $2.1 Billion, This deal will allow the company to take a step into the digital fitness trackers.
“By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearable’s and build products to benefit even more people around the world,” Osterloh said. “Google also remains committed to Wear OS and our ecosystem partners, and we plan to work closely with Fitbit to combine the best of our respective smartwatch and fitness tracker platforms.”.
They will be purchasing the company by taking over and purchasing majority of the companies shares.
Google isn’t new to the wearable technology smart watches, in 2015 they also spent $40 million on a unknown smartwatch and now will be acquiring Fitbit.