Google’s New Acquisition Plan for Healthband Maker Fitbit at 2.1Bn Dollar

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Fitbit Acquisition by Google 2.1 Billion

Today, healthband maker unveiled their new acquisition announcement by the Alphabet, the parent company of Google. Google will make the deal with 2.1 Billion Dollars with the Fitbit.

In the note Fitbit spokesperson said that Google will do the acquisition for $7.35 per share value in cash. In the early part of 2020, the deal is expected to be closed.

Fitbit founder, google acquires fitbit

In recent time, the San Francisco-based fitness trackers maker Fitbit got less full-year-revenue in July launching Versa Lite, its new healthwatch model,

The maker of wearable fitness tracker, fitbit started as small kickstarter driven healthband company. In early 2007, Fitbit was originally founded by James Park and Eric Friedman. They saw an on-growing interest in the sensor driven in small, wearable devices for health monitoring.  It was early reported that Fitbit has sold 21 million units since 2011. They had  71% market share in the healthband domain that time. Since 2014, IDC estimated Fitbit has sold 36.7 million health trackers units, and 4.8 million were sold in the first quarter of 2016. 

Source : Reuters.