Fitbit Confirms $2.1 Billion Acquisition By Google
After days of speculation, Fitbit has confirmed that it has entered into a definitive agreement to be acquired by Google for $2.1 billion.
In a blog post announcing the news, Google SVP of devices and services, Rick Osterloh, said that the Fitbit purchase is “an opportunity to invest even more in Wear OS as well as introduce ‘Made by Google’ wearable devices into the market.”
The popular fitness tracker company has vowed to take the privacy for health and fitness data seriously, noting that “Fitbit health and wellness data will not be used for Google ads.”
With Google having largely failed to break into the wearables market with its Wear OS platform, the acquisition will give Google a much stronger foundation to build on for future Android-integrated wearables devices.
The company’s strong focus on fitness tracking could also be integrated into Google’s existing Google Fit apps, offering Google a solid alternative to the Apple Watch’s deep fitness tracking integration with the iPhone.
The Fitbit purchase isn’t the only recent investment Google’s made into fitness-focused wearables either – back in January, the company spent $40 million to buy unknown smartwatch technology from Fossil based on tech that Fossil acquired when it bought wearable maker Misfit back in 2015.