Google Beefs Up Wearable Chops, Adds Fitness Tracker Maker Fitbit

Google, the Mountain View-based search and technology company, is adding another company to its fast-growing wearable portfolio this year. The tech giant has acquired Fitbit, a US-based developer of fitness tracking products, for a whopping $2.1 billion or $7.35 per share.

The deal comes just days after Reuters reported that Google was in talks to acquire the American fitness tracker firm. The Fitbit deal, which is still subject to government regulatory approval, is expected to be completed in 2020.

In the latest company’s blog post, Rick Osterloh, Google SVP for devices and services, said that the Fitbit deal is a great opportunity to invest even more in the company’s Wear OS platform as well as Google wearable devices.

In a separate press release posted by Fitbit, the company said it will still take privacy for health and fitness data seriously. The company added that Fitbit health and wellness data will not be used by the tech giant in their online advertising platform.

According to Gizmo China, the US tech giant has been struggling, trying to make a huge break in the highly lucrative wearable market with its very own Wear OS operating system. Fitbit’s years of experience and hardware chops that could give Google a much stronger foundation to build on for future wearable products.

What the deal will bring to the companies

Fitbit will likely integrate into Google’s existing Google Fit apps, the health tracking platform developed by the tech giant for Apple’s iOS, Wear OS and Android mobile operating system. Fitbit’s strong focus on fitness tracking technology could also provide the tech giant a solid alternative to the current market leader Apple Watch.

On the other side, Google’s formidable resources and software skills could also help Fitbit’s smartwatches and tracking products get a little smarter and much deeper software integration with the Google Android mobile platform.

About the wearable firm Fitbit

Founded in March 2007, Fitbit is an American wearable company that has a strong focus on fitness tracking technology. The company’s fitness tracking products include activity trackers and wireless-enabled wearable technology devices. Fitbit is the third-largest wearable company, right behind Apple and Chinese firm Xiaomi, according to the 2018 IDC reports.

Before its deal with Google, Fitbit made a number of strategic acquisitions and investments in the past years. These include the Romanian-based smartwatch startup Vector Watch SRL in 2017 and the Boston-based software startup Twine Health in 2018. In addition to that, Fitbit also acquired assets from technology firm Pebble, including key technical personnel.