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Google to buy Fitbit for around $2.1bn | Business News

By November 1, 2019 No Comments
Google is looking to enter the fast-growing market for fitness trackers and smartwatches

Google is to buy the fitness technology firm Fitbit for around $2.1bn.

The move comes as the internet search giant looks to enter the fast-growing market for fitness trackers and smartwatches.

The deal is expected to be sealed in 2020, subject to approval by Fitbit’s shareholders and regulatory approvals.

The firm’s co-founder and chief executive James Park said: “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.

“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.”

Google senior vice president Rick Osterloh said: “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.”

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