The cash deal is worth around $2.1 Billion
After being in the rumor mill a few days ago, Google has confirmed that it acquired FitBit in an all-cash deal worth valued at around $2.1 Billion. As part of the deal, FitBit will merge with Google and will form Google’s hardware division for wearables. From the statements made by Fitbit CEO James Park and Google hardware chief Rick Osterloh, all future FitBit devices will be running Wear OS.
“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,” Park said. With Park’s statement, a Pixel Watch is not far off, though we will have to wait and see Google’s plans following the acquisition.
While future FitBit models will run Wear OS, the company insisted that it will remain platform agnostic, so its future wearables will work with both iOS and Android. In addition, Google committed that all collected FitBit health and wellness data will not be used for Google Ads.
“By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world,” Osterloh said.