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Google will acquire Fitbit in $2.1 billion deal

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FitBit on Friday announced it would be acquired by Google in a deal that values the smartwatch maker at roughly $2.1 billion.


The deal puts Alphabet in a race against Apple when it comes to tracking fitness and health data. FitBit’s stock had surged as much as 30 percent earlier this week on reports that Alphabet had put in an offer.


Google will pay $7.35 a share for the fitness tracker, helping it advance its ambitions for wearable technology. The company does not make its own smartwatch.


FitBit’s stock surged more than 16 percent after the announcement.


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I liked my original Moto 360, but it's been almost shocking to me how poorly Google has improved Wear OS and how little progress has been made on the hardware front, especially compared to Apple. I don't really see how Fitbit solves either of those problems. They need better processors, and they need better software. Maybe this at least means that Google is going to be serious about wearables.

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