Google Looking To Buy Fitbit, Perhaps To Build the Pixel Watch?

Google reportedly in talks to acquire Fitbit		
		
	Frederic Lardinois

			@fredericl	 
		7 hours

Google reportedly in talks to acquire Fitbit Frederic Lardinois @fredericl 7 hours

According to Reuters, Google parent Alphabet is looking to acquire publicly traded wearables company Fitbit. The exact price that Google has offered for Fitbit could not be learned.

Representatives from Fitbit and Google have so far declined to comment on the rumors.

While Google has joined other major technology companies such as Apple Inc AAPL.O and Samsung Electronics Co Ltd 005930.KS in developing smart phones, it has yet to develop any wearable offerings.

However, Google does licenses its Wear operating system to companies such as Fossil, but still has not yet moved to create its own line of smartwatches. Google would likely have to pay much more than that figure though.

It's unclear if negotiations between Google and Fitbit will materialize a deal, said Reuters, whose sources asked not to be identified because the matter is confidential.

Shares of Fitbit were up almost a third-$1.32, or 30.6 percent-to $5.63 at market close Monday.

Industry analysts have noted that Fitbit's value may lie in its health data, as the company's devices now collect data such as number of steps taken, sleep duration and heart rate, from 27.3 million users.

San Francisco-based Fitbit played a formative role in the creation of the wearables market and continues to be one of the leading players to this day.

Google emerged in an earlier rumor as a possible buyer. Meanwhile, Fitbit has suffered from weaker-than-expected sales as of late.

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