Google on Friday announced plans to acquire Fitbit, the world’s leading maker of wearable fitness activity trackers. The deal is worth about $2.1 billion and is Google’s largest acquisitions.
The wearable market is here to stay and only grow, and since Google hasn’t made much headway into smartwatches and other wearable devices, this purchase seems to be worth it.
“With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone,” Fitbit co-founder and CEO James Park said.
In a press release, Fitbit emphasized its commitment to data privacy, saying it will remain transparent about the data it collects and why.
The wearable fitness tracker company also said it never sells personal information and that its health and wellness data will not be used for Google ads.
The acquisition deal is expected to be finalized in 2020.