Google acquires Fitbit for $2.1 billion entering into wearable technology space, the two organizations declared Friday. The move accompanies Google looking to grow past its core business of online inquiry into equipment, and with Fitbit battling against adversaries including Apple.
Rick Osterloh, Google senior VP for gadgets and administrations, said the deal for the wearable tech pioneer is one uniting the best software, hardware and AI, to develop wearables to help considerably more individuals around the globe. While Fitbit was among the first to advance wellness groups, it has lost ground as of late to rivals.
An overview by research firm IDC for the second quarter of 2019 discovered Fitbit in fourth place in a market drove by China’s Xiaomi driving the worldwide market, trailed by Apple which makes the main smartwatch – and Chinese-based Huawei.
James Park, Fitbit co-founder and chief executive said, “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.”
Fitbit has presented its own smartwatch in 2017 yet it has neglected to keep pace with the Apple Watch. Google, which faces pressure from controllers around the globe over its strength of web search, has been boosting its equipment contributions, including a line of Pixel phones and tablets, alongside associated speakers.
“Google is an ideal partner to advance our mission,” Park added. “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.”
Norman Pearlstine is the Chief Editor of News Raise and focuses on Business news. His responsibility is to oversee the editorial content including business, commodities, personal investments and the stock market.
