San Francisco [USA]
Google has officially announced that it is acquiring Fitbit for USD 7.35 per share in cash as part of a deal priced at approximately USD 2.1 billion.
Fitbit pioneered the wearables category and has sold more than 100 million devices, and has more than 28 million active users around the globe, the official release notes. Google’s acquisition is seen as the company’s push into the health domain. The acquisition is expected to close in 2020 and Fitbit will continue to remain platform-agnostic across both Android and iOS.