Google Acquires Fitbit in Major Tech Deal

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A close-up shot of a hand wearing a digital smartwatch, showcasing modern wearable technology outdoors.
Credit: pexels.com, A close-up shot of a hand wearing a digital smartwatch, showcasing modern wearable technology outdoors.

Google has made a major move in the tech world by acquiring Fitbit, a leading fitness tracker company. This deal is expected to be worth around $2.1 billion.

Fitbit has been a pioneer in the wearable technology space, with over 100 million devices sold worldwide. Its products have helped people track their daily activities, sleep patterns, and heart rates, among other things.

The acquisition is a strategic move by Google to expand its presence in the health and wellness space.

Google's Acquisition

Google has completed its $2.1 billion acquisition of Fitbit, a company that has sold over 120 million devices across more than 100 countries.

The acquisition was announced in November 2019, and Google's hardware chief Rick Osterloh emphasized that the deal was "about devices, not data." This means that Google won't use Fitbit users' health and wellness data for ad targeting.

Google will maintain strong data privacy and security protections, giving users control of their data and staying transparent about what they collect and why.

Credit: youtube.com, Fitbit shares jump after company's acquired by Google

The acquisition was approved by the EU, but with conditions, including that Google cannot use Fitbit data from users in the European Economic Area (EEA) for ad targeting. EEA users must also be able to opt-out of having their health and wellness data shared with other Google services.

Google's acquisition of Fitbit is part of its strategy to advance its ambitions for Wear OS, its software for smartwatches. By working closely with Fitbit's team of experts, Google can help spur innovation in wearables and build products to benefit more people worldwide.

Here are some key facts about the acquisition:

  • Google is paying $7.35 per share in cash for Fitbit.
  • The deal values Fitbit at around $2.1 billion.
  • Fitbit's all-time high share price was $51.90 on Aug. 5, 2015.

Google's commitment to data privacy and security is a key aspect of the acquisition, and the company has pledged to give users control of their data and transparency about what they collect and why.

Walter Brekke

Lead Writer

Walter Brekke is a seasoned writer with a passion for creating informative and engaging content. With a strong background in technology, Walter has established himself as a go-to expert in the field of cloud storage and collaboration. His articles have been widely read and respected, providing valuable insights and solutions to readers.

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