Today, Google announced that they’ve entered into a “definitive agreement to acquire Fitbit, a leading wearables brand.”
This lofty sum comes to fruition as the rumors swirling around Silicon Valley are now finally substantiated. Google has Wear OS, an Android-based smartwatch ecosystem. However, they’ve never really seemed grounded in the smartwatch game, with most Android users having either a Samsung smartwatch or a Fitbit. This is a smart move as this allows the search giant the power to capitalize on Fitbit’s already existing userbase. Plus, most likely, integrate it even deeper with the Android smartphone operating system.
Did Google buy Fitbit?
Yes. $2.1 billion is the figure according to The Verge. It’s currently unclear if it’s a straight cash deal or a blending of stocks and cash. Also from The Verge, they just spent about $40 million on “some unknown smartwatch technology” from Fossil Watches.
With the purchase of Fitbit, Google may finally be able to put some pressure on the Apple Watch. Wear OS still doesn’t have. Samsung’s smartwatches use a proprietary software called TizenOS.
I can imagine a Pixel Watch could help the company deliver a lot more wearables. Google’s Assistant could provide a lot of beneficial features to the already excellent Fitbit.
Over the years, Google has made progress with partners in this space with Wear OS and Google Fit, but we see an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market. Fitbit has been a true pioneer in the industry and has created engaging products, experiences and a vibrant community of users. By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world.Rick OsterlohSenior Vice President, Devices & Services on November 1, 2019, Google blog