Putting an end to speculation, wearables maker Fitbit, Inc. (NYSE: FIT) Friday said it agreed to be acquired by Alphabet’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google. The $7.35-per share deal values the company at $2.1 billion. The transaction is expected to close next year. Fitbit’s stock was trading up 15% following the announcement.
“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,” said Fitbit CEO James Park.
After entering the wearable market more than a decade ago, Fitbit achieved steady growth riding on the popularity of its products among athletes and fitness freaks. There were reports that the company could be pursuing its sale, considering the lackluster financial performance in recent years.
The company said it will continue to protect user information and ensure that personal data is not used for Google ads. The acquisition is pending regulatory sanction and approval by the shareholders of Fitbit.
Fitbit has been losing market share to rivals including Garmin (GRMN), though the functions of their fitness devices vary. The company generates more than 40% of the revenue from its smartwatch Versa. Of late, it was under pressure to explore other options to regain market share, especially after tech giant Apple (NASDAQ: AAPL) started making inroads into the wearable market.
Fitbit is scheduled to publish its third-quarter results on November 6, after the closing bell. Analysts are looking for a loss of $0.1 per share, compared to profit last year.
Arie Baisch
[…]here are some links to sites that we link to mainly because we consider they are really worth visiting[…]
Chirurgie Tunisie
[…]that may be the finish of this post. Right here you will come across some internet sites that we think you will enjoy, just click the links over[…]
Chirurgiens esthétique Tunisie
[…]usually posts some extremely exciting stuff like this. If you are new to this site[…]
National Chi Nan University
[…]very couple of web-sites that happen to become comprehensive below, from our point of view are undoubtedly effectively worth checking out[…]
درجات البكالوريوس في التسويق
[…]check beneath, are some totally unrelated web sites to ours, even so, they’re most trustworthy sources that we use[…]
Undergraduate programs
[…]here are some links to web-sites that we link to mainly because we believe they’re really worth visiting[…]
برنامج نظم المعلومات الإدارية
[…]although sites we backlink to below are considerably not connected to ours, we feel they may be really really worth a go by, so have a look[…]
MBA scholarships in Egypt
[…]Wonderful story, reckoned we could combine a handful of unrelated information, nevertheless seriously really worth taking a search, whoa did a single understand about Mid East has got extra problerms too […]
Human Resources Management degree
[…]usually posts some quite exciting stuff like this. If you are new to this site[…]
fue
[…]Every once in a while we choose blogs that we study. Listed beneath would be the most up-to-date web sites that we select […]
Public opinion
[…]that could be the end of this write-up. Here youll uncover some web pages that we believe youll value, just click the links over[…]
Development Studies
[…]Wonderful story, reckoned we could combine a handful of unrelated information, nonetheless actually worth taking a search, whoa did one master about Mid East has got additional problerms too […]
مواد كلية الصيدلة
[…]the time to study or go to the content material or web pages we’ve linked to below the[…]
Department of Pharmacognosy and Medicinal Plants
[…]just beneath, are a lot of totally not connected web pages to ours, even so, they may be certainly worth going over[…]
Pharmaceutical Analytical Chemistry
[…]Sites of interest we’ve a link to[…]
Research Activities
[…]Here are several of the internet sites we advise for our visitors[…]
Emergency Dental Care
[…]please pay a visit to the websites we follow, which includes this 1, because it represents our picks in the web[…]
Experienced professional instructors
[…]we came across a cool website that you simply could possibly get pleasure from. Take a appear when you want[…]
ماجيستير علاج الجذور
[…]Sites of interest we have a link to[…]
The speech of the Dean of the College of Engineering to welcome the students of the college
[…]check below, are some completely unrelated web sites to ours, having said that, they may be most trustworthy sources that we use[…]
The best college of engineering in Egypt
[…]although web-sites we backlink to below are considerably not associated to ours, we feel they’re truly worth a go by, so have a look[…]
Graduation project
[…]Sites of interest we’ve a link to[…]
Degree Requirements
[…]very handful of sites that come about to be comprehensive beneath, from our point of view are undoubtedly properly really worth checking out[…]
future unversity in egypt news
[…]always a large fan of linking to bloggers that I love but dont get quite a bit of link really like from[…]
ما هو افضل تخصص في ادارة الاعمال
[…]The details mentioned in the report are a few of the best accessible […]
future University application process
[…]one of our guests not long ago advised the following website[…]