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Google acquires Fitbit for about $ 2.1 billion

Google acquires Fitbit for about $ 2.1 billion

Google announced on November 1 (local time) that it has agreed to acquire US smartwatch manufacturer Fitbit. The total acquisition amount is about 2.1 billion dollars and the transaction is expected to be completed in 2020 after approval by Fitbit shareholders and regulatory authorities.

Fitbit is a listed company based in San Francisco, founded in 2007. It sells its own OS smartwatch and fitness tracker.

fitbit

The two companies partnered in May last year with Fitbit adopting Google’s Cloud Healthcare API, Google ’s wearable device, to enable collaboration between user data and electronic medical records (EMR).

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Rick Osterloh, senior vice president of hardware at Google, said in the official blog: “Further invest in Wear OS and bring Made by Google wearable devices to market. Fitbit is a true pioneer and attractive in the wearable industry It creates products, experiences and a vibrant user community, working closely with the Fitbit team, integrating the best AI, software, and hardware to promote wearable innovation and help people around the world. Can build “. “Google continues to be committed to Wear OS and ecosystem partners, working closely with Fitbit to achieve the best combination of smartwatch and fitness tracker platforms.”

Read: Google is buying Fitbit: now what?

Google offers Wear OS as an OS for smartwatches, but the original smartwatch has not yet been released. In January, the company acquired US lifestyle brand Fossil Group’s smart watch related technology intellectual property and some human resources in R & D for $ 40 million.

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