Wearables company Fitbit, Inc. (NYSE: FIT), is to be acquired by Google LLC, for approximately $2.1 billion.
The deal is expected to close in 2020, subject to customary closing conditions, including approval by Fitbit’s stockholders and regulatory approvals.
James Park, co-founder and CEO, Fitbit is a wearables company delivering an immersive experience from the wrist to the app, designed to allow users to understand and change their behavior to improve their health. The company has sold more than 100 million devices and supports an engaged global community of millions of active users, utilizing data to deliver personalized guidance and coaching to its users.
Following the deal, Fitbit will continue to remain platform-agnostic across both Android and iOS.
Fitbit’s line of products include Fitbit Charge 3™, Fitbit Inspire HR™, Fitbit Inspire™ and Fitbit Ace 2™ activity trackers, as well as the Fitbit Ionic™ and Fitbit Versa™ family of smartwatches, Fitbit Flyer™ wireless headphones, and Fitbit Aria family of smart scales. The devices are carried in approximately 39,000 retail stores and in 100+ countries around the globe.
In addition, the company’s paid subscription service, Fitbit Premium, uses data to deliver actionable guidance and coaching in the app to help people reach health and fitness goals.
Fitbit Health Solutions develops health and wellness solutions designed to help increase engagement, improve health outcomes, and drive a positive return for employers, health plans and health systems.
With the acquisition, Google aspires to create tools for people to enhance their knowledge, success, health and happiness, respecting user’s privacy and security. The company granted that Fitbit health and wellness data will not be used for Google ads.