Wednesday January 22, 2020

Google to pay $2.1 billion for Fitbit

Fitness tracker maker promises users' data will not be used for Google ads

1st November, 2019
Fitbit has sold more than 100 million devices and has an engaged global community of millions of active users, the company claims

Google will pay $7.35 a share for San Francisco-based fitness tracker and smartwatch maker, according to a statement released today. That represents a 71 per cent premium on Fitbit’s stock price before Reuters reported that Google had made a bid on the company on Monday.

The acquisition is Google’s second major purchase this year, after it agreed to pay $2.6 billion for Looker, the cloud software provider, in June.

US state and federal authorities...

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