Google has finally announced that it is acquiring Fitbit, a known name in the wearable market. Fitbit has revealed that Google has acquired the company for approx. $2.1 billion.
With this, Google believes that buying Fitbit is “an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market.” Google has acquired Fitbit for $7.35 per share in cash.
Google has further revealed that, just like its other products, with upcoming wearables, the company will be transparent about the data they will collect and why. The company has revealed that it will never sell personal information to anyone and Fitbit health and wellness data will not be used for Google ads.
The company has revealed that it will give Fitbit users the choice to review, move or delete their data. With this, Google is all set to enter into the wearable market, an area where it is not very successful. The company has not been able to create an impact in the wearable market, especially with its WearOS. But with the hardware capabilities of Fitbit, the search engine can actually create a smartwatch to create an impact in the industry.
“Fitbit has been a true pioneer in the industry and has created engaging products, experiences and a vibrant community of users. By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world,” said, Rick Osterloh, Senior Vice President, Devices & Services, Google in a statement.