In an attempt to expand its hardware portfolio, Google has announced that it has “entered into a definitive agreement to acquire Fitbit” – a leading manufacturer of smart wearables brand and smartwatches. With the acquisition, Google now aims to invest more in its Wear OS and introduce Made By Google wearables into the market.
However, as per a report by The Information, Facebook had also been in talks to acquire Fitbit. The report further states that Facebook was willing to pay half the price Google has paid for the deal.
Two giants competing to acquire a wearable brand only reeks off curiosity to tame the likes of in-demand hardware – especially wearables – in the market.
As of now, it would be interesting to see if Google will market the smartwatches and health trackers, which it will make in collaboration with Fitbit’s experts, under the Fitbit’s brand or Google will introduce them under a new brand name.
Moreover, yet another example of Google’s curiosity in wearables was obvious when the tech giant had purchased a hybrid watch technology from Fossil for $40 million.