Google makes headway into fitness tech market with $2.1bn Fitbit purchase


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Google makes headway into fitness tech market with $2.1bn Fitbit purchase

On Friday, the 1st of November 2019, a top official of Mountain View, CA-based American multinational conglomerate, Google LLC-parent Alphabet Inc., had confirmed Google’s $2.1 billion bid to purchase wearable tech device manufacturer, Fitbit Inc., as the world’s No.

1 internet service provider appears to be betting big on fitness trackers and smart watches to take on industry tycoons likes of Apple Inc. alongside Samsung Electronics. Aside from that, in a Friday (November 1st) statement, Google LLC was quoted saying that the company sought an opportunity to tap into wearable devices by introducing its own wearable devices and to invest a hefty amount in digital health, while industry analysts said following Google’s announcement that the Fitbit Inc.

purchase would bring in a rich spring of health-data gathered from millions of Fitbit Inc. users. In point of fact, Google LLC.’s interest on San Francisco, CA-based wearable device maker follows a series of devices released by Fitbit which even had threatened deep-pocketed companies likes of Apple Inc.

and Samsung Electronics Ltd. alongside cheaper offerings from China’s Xiaomi Corp. and Huawei Technologies, while citing Fitbit as a perfect fit for Google LLC., Craig Hallum analysts wrote in a client note, “The deep health and fitness data, coupled with the 28 million active users on the Fitbit platform, offer a tremendous value. ”