The rumors are true. A week after word surfaced that Google planned to buy Fitbit, the companies have confirmed the purchase. The match could ultimately prove beneficial for both parties. Google has struggled to make much of a dent in the wearables category, leading the software giant to purchase a large chunk of IP from watchmaker, Fossil.
Fitbit, meanwhile, has had issues maintaining growth in recent years. The company, which first pioneered and then dominated the wrist-worn tracker space, struggled as smartwatches grew and ultimately dominated the space. While late to the category, the company has had luck with the Versa watch, the result of its own acquisition of Pebble, Vector and Coin, while working to pivot much of its focus into healthcare.
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