Google has officially purchased Fitbit for $2.1 billion
Google's doing this to further invest in Wear OS.
What you need to know
- Google has acquired fitness-tracking giant Fitbit.
- The deal was completed for a total of $2.1 billion.
- Rumors about the purchase were circulating earlier this week.
Bright and early on November 1, 2019, Google announced that it has entered an agreement to buy Fitbit for $2.1 billion.
Google's Senior Vice President of Devices & Services, Rick Osterloh, broke the news on the official Google blog, saying:
Earlier this week, on October 28, a report from Reuters surfaced to indicate that Google was in a bid to purchase Fitbit. It's a big move, but it's also one that makes good sense.
Google's Wear OS wearable platform has been in something of a rut for the last few years. The company introduced the Android Wear to Wear OS rebrand in 2018 to revitalize its branding/image, but the hardware offerings have still been pretty ho-hum. Third-party watches like the Fossil Gen 5 have proven to be quite good, but without a proper "Made by Google" smartwatch and other major players, such as Samsung, ignoring the platform, it's been left to just sort of exist.
Along with Osterloh's blog post, Google's Vice President of Wear OS, Sameer Samat, also published a post titled, "Investing in the Wear OS ecosystem." In it, he says:
Fitbit's been trying its hand at the smartwatch market since late-2017 with the introduction of the Fitbit Ionic, which has since been followed up by the likes of the Fitbit Versa, Versa Lite, and Versa 2.
Fitbit's hardware and design have been consistently great across its products, but the FitbitOS software that powers its watches has always been considerably behind the competition. What all of this means for Google remains unclear right now, but it's entirely possible we see Google take advantage of Fitbit's design and health prowess and use that to create a new Wear OS watch in the not-too-distant future.
Along with Google's two blog posts, Fitbit also published its own press release with a quote from Fitbit CEO and co-founder, James Park:
The deal between Google and Fitbit is expected to be completed at some point in 2020, pending regulatory approval and the blessing of Fitbit's stockholders.
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