Google Buys Fitbit Smartwatch Maker For $2.1 Billion

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In a recent announcement of Google’s hardware Chief Executive, he made public that the rumors going on that Google buys Fitbit are true. The smartwatch maker Fitbit, acquired by Google for $2.1 billion. This is the second time Google has aimed an acquisition for the wearable devices in the same year. Back in January it purchased an unknown technology from Fossil Group for $40 million. Google has always worked for making google wearable devices a hit in the market. But the Internet giant is up till now unable to achieve that.

Google buys Fitbit

Devices Earlier Purchased By Google:

Google is a software internet giant, which has numerous apps in the industry also including health and fitness apps. In the past, it has bought numerous devices in the wearables field. The Fitbit acquired by Google is on the fifth number in terms of its price tag as Google buys Fitbit for $12.1 billion. Earlier, other expensive products have also been are through all cash deal by Google. In terms of cost, Motorola is on the top. Then there is Nest, Adsense and Lookers.

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Although Google has been working on Wearable OS devices, whether android or iOS, but they are usually slow, large and have a low battery life. So it doesn’t seem to work out. And they are not at least bit competent of what Samsung and Apple are making. But as Google buys Fitbit, it doesn’t seem to fix the core problem of wearables for the Google. And the deal is expected to close eventually in 2020.

Fitbit acquired by Google

Also, Fitbit is facing a steady loss in its revenue since it has launched its Fitbit devices so the cofounder and CEO James Park think that Google’s acquisition will cover up for that. Now as Google buys Fitbit, Google SVP also vowed that Google won’t sell any personal information about Health and the data will not be used for Google ads.

 

 

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