Google in Talks to Buy Fitbit, Sources Say
Alphabet, Google's parent company, is reportedly in talks to buy wearable company Fitbit, according to Reuters.
Sources familiar with the talks, who wanted to remain anonymous, said there is no confirmation that the deal is taking place or how much is being offered.
Trying to compete
Last month, CNBC reported that Fitbit was exploring a sale. Google, on the other hand, has been a player in the wearable market for years with its Wear OS operating system.
However, it has found itself unable to compete with the Apple Watch despite valiant efforts. Last January, Google acquired for $40 million some type of smartwatch technology from Fossil, but it was never revealed what the technology was.
Buying Fitbit could be a play to make Google compete with Apple in the health and fitness space, a market that's steadily growing. However, people are already reporting that the move won't be able to help Google overcome its competitors, especially Apple’s biggest smartwatch advantage.
In addition, no one seems to know what exactly Google plans to do with Fitbit. As The Verge's Dieter Bohn put it, trying to figure that out is "exhausting."
Meanwhile, for Fitbit, support from Alphabet could grant the firm a much-needed boost. In fact, after the news of the acquisition was revealed, the company's stock skyrocketed up to 30%.
However, there is one dark spot in all this. People are already wondering what will happen to all the Fitbit data once acquired by Google and are now warning users to delete the information.
As a former member of one of Google's own privacy teams, Alphabet acquiring Fitbit is almost certainly motivated primarily by the data about users' lives that the product produces.— Irenes (many) (@ireneista) October 28, 2019
We'll have to wait and see if the sale goes through.