Nov 1, 2019
Fitbit snapped up by Google in $2.1bn deal
Fitness device marker Fitbit is being bought by Google for $2.1bn. The move allows Google to expand into the market for fitness trackers and smart watches. "Google is an ideal partner to advance our mission," said James Park, co-founder and chief executive of Fitbit. "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," said Mr Park, who founded Fitbit 12 years ago. Fitbit said its "Health and wellness" data would not be used for Google adverts and pledged to maintain strong privacy protections. "The deep health and fitness data, coupled with the 28 million active users on the Fitbit platform, offer a tremendous value," Craig Hallum analysts wrote in a note cited by Reuters.
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