Google Acquires Fitbit for $2.1 Billion, Made by Google Wearables Coming? - padillatront1952

Reports of Google look to take on popular wearable company Fitbit made their way to the Internet earliest this week. Symptomless, the rumors own been proved true. Google has now taken to its official blog to confirm the learning of Fitbit, a move which it states will follow helpful in furthering the Wear off OS, as well as Made by Google hardware ecosystem.

The official press release states, "Fitbit, Inc. has entered into a definitive agreement to be noninheritable by Google LLC for $7.35 per share in cash." This means the wearable maker has been valued at approximately $2.1 trillion in this deal, which is higher than its current $1.86 billion market capital (share price: $7.20). The transaction is said to be closed next year in 2022.

James Park, the co-founder and CEO of Fitbit comments on the acquisition, "Google is an nonesuch collaborator to advance our foreign mission. With Google's resources and orbicular platform, Fitbit will be able to accelerate innovation in the wearables category, scale quicker, and make health even more accessible to everyone."

Fitbit's team will now join Google and most likely expand on Fag out Bone with Pebble's software team (which Fitbit acquired last year) while also pivoting its Versa smartwatch into a 'Made by Google' intersection. The wearable manufacturer, in its agitat release, adds that it's going to remain platform agnostic (work both with Android and iOS) and preserve user certificate, also as privacy.

"This agreement underscores our feeling in how important wearable tech has become, and IT's also an exciting opportunity for Wear OS. We're looking fore to collaborating with Fitbit to bring the best of our smartwatch platforms and health applications together and enabling our partners to build the side by side generation of wearables," says Google's Wear OS Product Manager, Sameer Samat in the web log mail.

Even earlier today's confirmation, Google's move to acquire Fitbit has been mocked by many. It's existence referred as "a way for Google to chassis a Pixel Watch" and so shutter Fitbit – like information technology has through several brands and products over the past a few years.

One of the best examples of Google's short-lived aspirations has to beryllium the acquisition of "Motorola Mobility," which didn't turn out to atomic number 4 as fruitful every bit the search giant might have expected. I think we all know what happened thereupon. Motorola was bought by Google some time in 2022 and sold off to Lenovo in 2022 for $2.91 billion, a fraction of the sum that was paid (around $12.5 billion) to acquire information technology.

We'Ra not trying to undermine Google's ability to build hardware, but we sort of are. We sure are excited to see what Fitbit brings to the table – a smart wearable, controlled by Google Adjunct, and providing health-focused features on equality with the Apple Watch. I mean, if Google wants the much-reported Pixel Watch to be a success, and then it has to begin the recipe (almost) right in the first go.