After rumours regarding the deal made their way into the limelight last month, Google has now officially confirmed that it will acquire the fitness wearable company Fitbit. With more than 12 years being in the business, Fitbit is one of the biggest players within the fitness wearable space and has sold more than 100 million devices to date.
While Google didn’t mention the figures inside its announcement, Fitbit on another hand openly stated that it is being acquired for USD 2.10 billion (around RM 8.75 billion) in cash. The acquisition is expected to be completed in 2020, depending on the customary regulatory and stockholders’ approvals.
As far as official statements are concerned, both companies have yet to fully address what would happen to existing owners of Fitbit devices. Google did mention that the company and Fitbit already looking to merge the best of their smartwatch and fitness tracker platforms together.
At the same time, Fitbit has also stated that its health and wellness data will not be utilized for Google ads. Google also pointed out that it will provide options to Fitbit users to review, move, and delete their data. Furthermore, Fitbit has also stated that it will continue to cater to both Android and iOS users in order to maintain its existing platform-agnostic policy.
