Google Acquires Fitbit, for $2.1 Billion
Summary
Wearables company Fitbit, Inc. (NYSE: FIT), is to be acquired by Google LLC, for approximately $2.1 billion. James Park, co-founder and CEO, Fitbit is a wearables company delivering an immersive experience from the wrist to the app, designed to allow users to understand and change their behavior to improve their health. In addition, the company’s paid subscription service, Fitbit Premium, uses data to deliver actionable guidance and coaching in the app to help people reach health and fitness goals. With the acquisition, Google aspires to create tools for people to enhance their knowledge, success, health and happiness, respecting user’s privacy and security. The company granted that Fitbit health and wellness data will not be used for Google ads.
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