Lauren Feiner | Tech Policy Reporter at CNBC “Google is acquiring Fitbit, putting it head-to-head with Apple on smartwatches. The deal values Fitbit at about $2.1 billion.” ~LinkedIn
Google is set to acquire wearable device maker Fitbit for $2.1bn (£1.6bn.) The search giant has offered $7.35 (£5.67) a share in cash, Fitbit said, in a deal expected to close in 2020, pending regulatory approval. While Alphabet-owned Google has developed smartphones, this is its first foray into the fast-growing market for fitness trackers and smartwatches, where it faces competition from Apple and Samsung. Fitbit said the health data it collects would not be used for Google ads.
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