Google wants to buy Fitbit

Google wants to buy Fitbit

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Google is interested in acquiring a business on FitBit and has already made an official bid to buy the company. Financial parameters have not been released, Reuters reported.

If such an agreement is reached, it will allow Google to extend its reach into the segment of smartwatches and fitness trackers. The company has its own operating system for these devices, called Wear OS.

However, Google has not yet introduced its smartwatch to further promote the New Operating System. At the same time, Fitbit has a large customer base and generates over 50% of their sales revenue from fitness trackers.

A good example is the Google Fit app, which is used by 2.6 million people, though it is available on Android, Wear OS and iOS, while Fitbit has 27.4 million users.

A possible deal will allow both companies to integrate their ecosystems into an even better and more useful product for consumers. Negotiations between the two countries continue.

ShareBit shares rose 27% after news broke online, while Alphabet shares rose 2%. The market capitalization of FitBit is about $ 1.4 billion. It would not be surprising if the company had to pay a higher amount to acquire the business of Fitbit.

Google wants to buy Fitbit

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