Google Acquires Fitbit: What Does This Mean for Fitness Enthusiasts?

Fitbit devices are some of the most popular fitness trackers on the market, but the company has been struggling to stay afloat in recent years. In January, Fitbit announced that it would be acquired by Google for $2.1 billion. The deal is expected to close in 2020.

Google has a long history of acquiring companies, and its acquisition of Fitbit is no exception. Google has stated that it plans to use Fitbit’s technology and expertise to develop new wearables and other health-related products.

Is Fitbit Acquired By Google?

Fitbit could be on the cusp of a major transformation.

The company announced on Tuesday that it’s acquiring the tech assets of startup Twine Health. The deal doesn’t include any of Twine’s employees, according to a Fitbit spokesperson.

The acquisition of Twine’s tech could help Fitbit expand into the healthcare market, according to a Tuesday note from Cowen & Company analyst Jon Windham. Fitbit has primarily focused on the consumer market, but it has been pushing into healthcare in recent years through partnerships with companies like Google.

The acquisition of Twine’s tech could also help Fitbit improve its software and develop new devices, according to a Tuesday note from Wedbush Securities analyst Dan Ives.

Twine Health was founded in 2015 and has raised $23 million in funding. The company’s platform helps patients with chronic diseases manage their health and connect with their care team.

Fitbit has been struggling in recent years as the market for wearable devices has become more competitive. The company’s stock has lost more than 80% of its value since its IPO in June 2015.

In February, Fitbit announced that it was laying off 15% of its employees. The company also announced that it was acquiring the wearable payment company Payfone.

The acquisition of Twine Health’s tech is expected to close in the first quarter of 2019. The deal is subject to regulatory approval.

Fitbit is headquartered in San Francisco, but it has a research and development office in Boston. The company has more than 30 million active users.

How Did The Acquisition Of Fitbit By Google Come About?

• Fitbit has been one of the most prominent wearables companies in the world for the past few years. However, the company was struggling to stay afloat before it was acquired by Google. In early 2021, Fitbit’s stock was trading at around $7 per share, and the company was struggling to generate revenue.
• Google saw an opportunity to buy Fitbit at a discounted price, and the company announced its plans to acquire Fitbit in January 2021. The acquisition was completed in early December 2021, and Google now owns Fitbit.
• Since the acquisition, Google has been working to integrate Fitbit’s technology into its own products. The company has also been working to develop new products that will compete with Apple’s popular Apple Watch.
• Google’s acquisition of Fitbit is a big deal for the company, and it will help Google to expand its presence in the wearables market. It’s also a good deal for Fitbit, which will now have access to Google’s resources and expertise.

What Impact Will The Acquisition Have On The Future Of Fitbit And Its Products?

Fitbit’s acquisition by Google will allow the company to remain a standalone business and maintain its privacy policy, according to Google.

The search engine giant announced it was buying the wearables company for $2.1bn in January.

At the time, concerns were raised about how Google would handle the data collected by Fitbit’s fitness trackers and smartwatches.

In a statement, Google said: “We’ve been clear from the beginning that we’re buying Fitbit to help us expand our efforts to build a healthier world and that we will preserve Fitbit‘s privacy policy.”

It added that it would also preserve the “privacy and security of Fitbit users’ data”.

“Fitbit will remain a distinct brand and operate as a distinct business.”

The acquisition is currently being investigated by the Competition and Markets Authority (CMA), which has until 1 May to complete its probe.

The CMA is examining the deal to see if it will result in a “substantial lessening of competition” in the UK.

Fitbit is one of only a few companies that dominate the wearables market.

According to the latest figures from market research firm Gartner, Fitbit had a 19.9% share of the market in 2020, second only to China’s Xiaomi.

What Does The Acquisition Mean For The Wearables Market In General?

Google’s acquisition of Fitbit is a clear sign that the company is serious about its wearable ambitions. Google has been working on a wearable platform called Wear OS for several years, but it has struggled to gain traction in the market. The acquisition of Fitbit will give Google access to a large user base and a wealth of data that will help it to improve its wearable platform.

Google’s Wear OS has been criticized for its lack of compatibility with many popular fitness trackers and smartwatches. The acquisition of Fitbit will help Google to address this issue and make its wearable platform more attractive to consumers. Fitbit devices will eventually become part of the Google Wear family, which will give Google access to a large and active user base.

The acquisition of Fitbit will also give Google access to a wealth of data that will help it to improve its wearable platform.

How Will The Acquisition Affect Google’s Position In The Wearables Market?

Google’s acquisition of Fitbit will have a significant impact on its position in the wearables market. By acquiring Fitbit, Google will be able to leverage the company’s expertise in wearable technology and its large user base to gain a stronger foothold in the market.

Fitbit has a long history of developing wearable devices and has a strong presence in the market with millions of users. By combining Fitbit’s expertise and user base with Google’s resources and technology, the two companies will be able to create a more comprehensive offering for customers.

In addition, the acquisition will allow Google to integrate Fitbit’s technology into its own products, such as the Pixel smartphone and Wear OS. This will give Google a more competitive offering in the wearables market and allow it to better compete with its rivals, such as Apple and Samsung.

Overall, the acquisition of Fitbit will be a major boost for Google in the wearables market and will allow it to more effectively compete with its rivals.

What Are The Potential Benefits Of The Acquisition For Both Fitbit And Google?

For Fitbit, the deal could help it compete with Apple, which has a significant lead in the wearable tech market. Fitbit has been losing money for years, and Google’s resources could help it turn a profit. Google could also use Fitbit’s expertise in health and fitness to improve its own products.

For Google, the deal could give it an opportunity to enter the wearable tech market. Google has been developing its own wearable, called Project Glass, but it has faced competition from Apple and Samsung. By acquiring Fitbit, Google could gain a head start in the wearable market.

In addition, the deal could give Google access to Fitbit’s data. Fitbit has collected data on millions of users, and Google could use this data to improve its products and services. For example, Google could use Fitbit data to develop new health and fitness apps.

Overall, the acquisition could be a win-win for both companies.

Recommendations

The big tech companies are always looking for the next big thing. Google is no different. They have been rumored to be interested in acquiring Fitbit, the company that makes fitness trackers. This would give Google a big boost in the wearables market. It would also give Fitbit a much larger platform to sell their products. The deal is not yet done, but it looks like it is going to happen. We will have to wait and see what the future holds for Fitbit and Google.