Alphabet’s Google to buy Fitbit for $2.1 billion

Reuters November 1 | Updated on November 01, 2019 Published on November 01, 2019

Alphabet Inc’s Google will buy wearable device maker Fitbit Inc for $2.1 billion, as the search giant looks to enter the fast-growing market for fitness trackers and smartwatches.

Fitbit said on Friday it had been offered $7.35 per share in cash, a premium of about 19% to the stock’s closing price on Thursday.

Fitbit shares have gained more than 40 per cent since Reuters exclusively reported on Monday that Google had made an offer for the maker of the popular colourful fitness trackers.

Published on November 01, 2019
This article is closed for comments.
Please Email the Editor