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Google buys Fitbit for $2.1 billion

Fitbit is being acquired by Google for $7.35 per share in cash. This agreement values the company at approximately $2.1 billion.

Fitbit helped shape the wearables category by creating affordable devices and engaging services. The company has sold more than 100 million devices and supports a global community of millions of active using data to deliver personalised guidance and coaching.

“More than 12 years ago, we set an audacious company vision – to make everyone in the world healthier. Today, I’m incredibly proud of what we’ve achieved towards reaching that goal. We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life,” commented James Park, co-founder and CEO of Fitbit. “Google is an ideal partner to advance our mission. With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could not be more excited for what lies ahead.”

Rick Osterloh, Senior Vice President, Devices & Services at Google continued, "Fitbit has been a true pioneer in the industry and has created terrific products, experiences and a vibrant community of users. We're looking forward to working with the incredible talent at Fitbit, and bringing together the best hardware, software and AI, to build wearables to help even more people around the world."

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

Author
Charlotte Hathway

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Websites

https://www.fitbit.com

Companies

Google

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