Google buys Fitbit for USD 2.1 bln

News Wireless Global 1 NOV 2019
Google buys Fitbit for USD 2.1 bln

Fitbit has accepted a takeover offer from Google worth USD 7.35 per share in cash, or a total of USD 2.1 billion. The deal is expected to close next year, subject to the usual closing and regulatory conditions, including approval from Fitbit’s shareholders.  

Co-founder and CEO James Park said that with the support of Google, Fitbit will be able to further push innovation, scale faster and makes its health applications more accessible. 

Google said Fitbit will continue to remain platform-agnostic across both Android and iOS.

Categories:

Mobile

Companies:

Google,  Fitbit

Regions:

Global

Tags:

IT - applications, Consumer devices, Corporate strategy, M&A buyouts & divestments

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