Fitbit is supposedly looking to buy smartwatch maker Pebble. The rumours also suggest that the amount being discussed is a lot lower than people would expect, with the number only barely covering the amount of debt that Pebble has.
Online newspaper The Information first reported of Fitbit’s negotiations with Pebble, and this was quickly followed by a source confirming the situation to Engadget. According to the tech news portal, Fitbit is looking to pay between $34 and $40 million (RM152 to RM179 million) for the smartwatch company.
It would appear that the low bid is due to Pebble’s financial difficulties. Sales of the Pebble Round failed to live up to expectations, while there has no indication of how well the Pebble 2 and Pebble Time 2 has been doing. Pebble has been known for wildly successful Kickstarter campaigns, and is often known as the poster-child for crowdfunding success.
However, it sounds like Fitbit is not interested in keeping the Pebble brand around. The company is only interested in acquiring patents and technology; and will likely allow the Kickstarted smartwatches to disappear into the sands of time.