Google has accepted purchase Fitbit for $2.1 billion in a relocation providing the United States tech giant an entry into the wearable innovation space, the two business announced Friday.
The relocation includes Google looking for to broaden beyond its core business of online search into hardware, and with Fitbit struggling against competitors including Apple.
” We have actually built a trusted brand that supports more than 28 million active users around the globe who count on our products to live a healthier, more active life,” Fitbit co-founder and chief executive James Park stated in a statement by the two companies announcing the deal.
” Google is an ideal partner to advance our objective. Fitbit will have the ability to speed up development in the wearables category, scale much faster, and make health a lot more accessible to everyone. I could not be more fired up for what lies ahead.”
Rick Osterloh, Google senior vice president for gadgets and services, said the offer for the wearable tech pioneer is one “bringing together the very best hardware, software and AI, to build wearables to assist even more individuals all over the world.”
While Fitbit was among the first to promote physical fitness bands, it has lost ground recently to competitors.
A survey by research company IDC for the second quarter of 2019 discovered Fitbit in fourth location in a market led by China’s Xiaomi leading the worldwide market, followed by Apple– that makes the leading smartwarch– and Chinese-based Huawei.
Fitbit has actually presented its own smartwatch in 2017 however it has actually failed to keep pace with the Apple Watch.
Google, which deals with pressure from regulators around the globe over its supremacy of web search, has been improving its hardware offerings, including a line of Pixel smartphones and tablets, together with connected speakers.