The rumours have come true. After days of speculation, Google has confirmed that its is acquiring Fitbit for US$2.1 billion. According to Rick Osterloh, Senior Vice President of Devices and Services at Google, the search giant has made progress with partners in this space with Wear OS and Google Fit. but the company sees an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market.
“By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world,” he added.
“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,” said James Park, Co-founder and CEO of Fitbit.
Founded in 2007, wearable device pioneer Fitbit was ranked fourth with 10.1 percent market share in IDC’s September report on Worldwide Quarterly Wearable Device Tracker.