Google being in pursuit of acquiring FitBit was no secret to anyone and a lot of speculations were being made during last few weeks around this matter. It has finally been made official now as FitBit reported that Google will acquire FitBit for 2.1 Billion US Dollars.
“More than 12 years ago, we set an audacious company vision – to make everyone in the world healthier,” said James Park. “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.” James is the co-founder and Chief Executive Officer of FitBit.
“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.” He kept on adding.
It has not come as a surprise to anyone as it was already very clear that FitBit was struggling to keep up with its competition. Smart Watch Market was being dominated by giants like Apple and Garmin while Xiaomi’s fitness bands were pushing FitBit hard from the other end due to their considerably cheaper and almost as good devices.
“Fitbit has been a true pioneer in the industry and has created terrific products, experiences and a vibrant community of users,” stated Rick Osterloh, “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.” He added. He is Google’s SVP, Devices & Services.
Both brands are expected to get through the deal early next year. This would also mark the establishment of Google in smart wearables market as another competitor.