Google to Acquire FitBit.
The tech giant’s parent company, Alphabet,
is set to buy the smartwatch maker, which
is valued at about $2.1 billion.
Alphabet will pay
$7.35 per share
in cash to finalize
the acquisition.
FitBit’s stock shot up nearly 30% on
Monday when news of Alphabet’s
offer to buy the company surfaced.
The move will put Google in direct competition
with Apple, which dominated about half of the
global smartwatch market at the close of last year.
The deal is set to close in 2020,
according to Friday’s announcement
Comments