Google’s parent company, Alphabet is planning to acquire wearable device maker company Fitbit. There is no confirmation about the bid amount that is offered to Fitbit by Alphabet.
Alphabet Inc.
Alphabet is America based multinational conglomerate, which is the fifth-largest technology company. The company was created by Google inc in 2015, Larry Page founder of Google made an announcement of developing a parent company to improve management and transparency. Alphabet owns many other subsidiaries other than Google.
Fitbit Inc.
Fitbit is also an America based company, which produces wearable devices established in 2007. Fitbit is the third-largest company in the business of wearable devices with a 27% share of the market after Apple and Xiaomi. It is one of the most preferred and trusted brand in health and fitness tracking business.
The company came in recognition after launching a technology in its products that allowed sync with android devices. There is also a Fitbit app which can connected to the Fitbit tracker to analyze daily fitness activities and health counts. The company has given several feature updates for exercise like bicycling monitoring, heart rate sensor, Multi-Tracker and GPS support, and dashboard redesign. More upgrades were given to technology like improved sensors, new reminders, new Account page design, sleep schedule, auto-recognition. The use of Google Cloud Healthcare API was also included.
Fitbit launched many effective devices like Fitbit Ionic Adidas Edition, Fitbit Ace, Fitbit Ace for Kids, as well as Fitbit Charge 3, Fitbit Inspire, and Fitbit Inspire HR. The company also introduced its own brand named wireless headphones Fitbit Flyer.
Fitbit recently launched its premium smartwatch Fitbit Versa 2 in August. The Fitbit smartwatch is equipped with music storage, capability for online payments and Voice assistant of Amazon Alexa.
Google acquiring Fitbit
Google, the tech giant have entered every possible technology field business but it has not yet entered the wearable business. Although the company has its own Wear OS platform. It licenses Wear Operating System to several companies like fossil and more.
Samsung smartwatch and Apple Smartwatch are currently in leading business. Alphabet collaboration with Fitbit will give a great competition to them and other brands.
For the time being Alphabet, as well as Fitbit, both the companies denied to provide any kind of statement on the deal. As far as we know this deal will prove to be beneficial for both corporations. It will give the hype to Fitbit and Google to enter wearable business with existing and well-known brand.