Google Seals $2.1 Billion Acquisition of Fitbit


Fitbit has misplaced market share to Apple, Xiaomi, Samsung and Huawei.

Alphabet Inc’s Google has accomplished its $2.1 billion acquisition of wearable system maker Fitbit Inc, the businesses mentioned on Thursday.

The deal had triggered considerations over Google’s market energy and the usage of individuals’s well being information in focused promoting. The businesses received antitrust approval from the European Union in December after Google agreed to restrictions on the way it will use clients’ well being associated information.

“This deal has all the time been about gadgets, not information, and we have been clear for the reason that starting that we’ll shield Fitbit customers’ privateness,” Google mentioned in a weblog submit on Thursday. Fitbit, as soon as the chief within the wearable gadgets market, has misplaced market share to Apple, Xiaomi, Samsung and Huawei lately.

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