Google has officially acquired Fitbit in a $2.1 Billion dollar deal that will likely finish next year. Many details about the purchase have not been released, as the Fitbit shareholders have not approved the deal. However, there are some early indications that Google will use the company as a wearable technology division of Google. This is because Rick Osterloh, the head of devices and services at Google, stated that the acquisition could allow Google to further invest into its wearable devices.
Since Google officially acquired the company, James Park, the CEO spoke on the future of the organization, "With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category." Park also stated that Fitbit views Google as a partner that can help Fitbit achieve its goals.
Wearable Tech Purchases
Google Officially Acquired Fitbit in a $2.1 Billion Deal
Trend Themes
1. Wearable Tech Innovation - The acquisition of Fitbit by Google may prompt disruptive innovation opportunities in the wearable tech industry.
2. Increased Competition - The acquisition of Fitbit by Google could lead to increased competition for other wearable tech brands such as Apple and Samsung.
3. Data Analytics Advancements - Google's acquisition of Fitbit may provide opportunities for disruptive innovation in data analytics within the wearable tech industry.
Industry Implications
1. Wearable Technology - The acquisition of Fitbit by Google will have a significant impact on the wearable technology industry.
2. Technology - The acquisition of Fitbit by Google marks a significant development in the technology industry and highlights the increasing importance of wearable tech.
3. Data Analytics - Google's acquisition of Fitbit presents potential disruptive innovation opportunities in the data analytics industry, particularly within the context of wearable technology.