Fitbit has acquired smartwatch maker Pebble and it is reported that acquisition is
a small amount as per the information Fitbit has acquired its assets includes
software and property. The watch maker Citizen was very much interested in
acquiring pebble for about 740 million dollars in 2015 but the deal was failed. The
Fitbit is paying 40 million dollars for the company and is covering their debts.
Earlier in this year pebble CEO has confirmed that company has raised 28 million
dollars in debt and venture financing.
Fitbit acquiring pebble means that it is not about hardware but about taking
talent, software, and homegrown platform and owning it will help diversify
Fitbit’s product lineup and if it chooses to go on further down the smartwatch
pathway. This acquisition will also let Fitbit kill its competitor. Both make their
own software and are agnostic when it comes to which smartphones they
work, as both share data free with third party apps as Fitbit has stubbornly refused
to permit data sharing with Google fit software.
Fitbit is one of the high-profile companies and is San Francisco-based founded in
2007 by James Park and Eric Friedman who has seen the potential for using
sensors in small wearable devices and is a company which makes many wearable
health tracking devices and has a stable growth. The company has shipped in late
2009, shipping around 5000 units with a added 20000 orders on the book records
and started selling its product on the website and started adding retailers and was
the biggest challenge ever as it was a totally new product and took a lot of
work to convince retailers that consumers were going to buy Fitbit and became a
mass market product.