Google has announced that it will be acquiring wearables maker Fitbit for an estimated $2.1 billion.
“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,” said James Park, co-founder and CEO 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.”
The Fitbit team will join Google’s hardware team led by Rick Osterloh and there could be a future Fitbit smartwatch that runs Wear OS, but nothing has been confirmed on that.
Fitbit isn’t the only acquisition that Google has made recently when it comes to wearables. The company bought $40 million worth of smartwatch technology and its team from Fossil back in January.
“Fitbit has been a true pioneer in the industry and has created terrific products, experiences and a vibrant community of users,” said Rick Osterloh, Senior Vice President, Devices & Services at Google. “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.”
Earlier reports had indicated that Fitbit was exploring the possibility of a sale and Google’s parent company, Alphabet was the front-runner.
Fitbit has sold more than 100 million devices and said it still plans to be platform-agnostic by being compatible with Android and iOS.
Google’s acquisition of Fitbit is set to close in 2020.