Google Acquires Fitbit For $2.1 Billion

September 18th, 2019 at 3:09 pm
 


Google Project TangoOnline search giant Google has been trying to diversify its business for a number of years now. Although not all of them have been quite successful, their standing as the world’s leading search engine has allowed them to have the leeway on trying out different opportunities without having to worry about a costly failure. By the looks of it, they are still quite active at it as the company recently announced that it is acquiring a leader in fitness wearables, Fitbit, for $2.1 Billion.

According to a blog post on the Google Blog, Rick Osterloh, Google SVP for devices and services, says that the acquisition gives the company to introduce Made by Google wearable devices in to the market. With the proven expertise of the Fitbit team of experts and Google’s AI, software, and hardware, consumers around the world will be able to benefit from getting new and innovative wearables and other related products.

With this acquisition, Google is slowly getting serious about entering into a market for smart devices. It started with the acquisition of Nest around five years ago. After several years of operating under its own name, Nest was eventually absorbed into the Google Home division and is currently named Google Nest.

Under its deal with Google, Fitbit will be joining the company itself and will not be operating under a separate corporate structure. The partnership will certainly boost Google’s standing into the fitness wearables market, something that it has been unsuccessfully doing for several years now under its own Google Fit and Wear OS platform. And just like any business partnership, only time will tell whether the merger of sorts will create an impact in a relatively new market for fitness wearables and wellness products.

Source: The Verge

 

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