The transaction is subject to approval by shareholders and regulators. Worm That Makes Horrific Face To Avoid Being Hunted. You have 1 free article left. Google Buyout. Last November, Google and Fitbit were quick to reassure consumers that “Fitbit health and wellness data will not be used for Google ads”. Use of this site constitutes acceptance of our. If Google has aspirations in wearables, Fitbit is a way in, which could explain the news that Google’s parent company Alphabet Inc. may … SEATTLE — Google said on Friday that it was buying Fitbit, the maker of fitness-tracking devices, in a $2.1 billion deal that closes the gap with Apple in … When Mike Carpenter learned Google's latest acquisition would be Fitbit, the maker of a device he wore at all hours of the day except in the shower, he left his Fitbit Charge 3 … This is Google’s biggest acquisition since it acquired the smart home company Nest for $3.2 billion in 2014, which shows its determination and ambition. ), You Can Write Texts With Mercedes Benz’s Digital Lights. Firstly, as has already been discussed, Fitbit products collect rich data that Google … Why Google Acquired Fitbit Fitbit's been shopping around for a buyer, and the search is finally over for the beleaguered fitness tracker manufacturer. Google’s plan to buy Fitbit raised concerns when it was announced in late 2019 because of its already rich trove of data about people, what they buy, where they travel, and more. "Fitbit will continue to put users in control of their data and will remain transparent about the data it collects and why," read the Nov. 1 … Digital Phablet brings you top news of Technology, Digital Marketing and Social Media. Here’s why it matters, and what you should do. You have 2 free articles left. I have owned a TWP3 for a little over a month. After months of speculation, Google has pounced and moved to acquire Fitbit for a cool $2.1 billion, signaling its intent to get serious about wearables. Almost all of this deal’s evaluations are inseparable from Apple’s name, which means that the two technology giants have finally had a head-on confrontation in the health field. With the Fitbit team concentrating on developing new products, the software and services element can be delegated to the Google engineers. Why did Google Buy Fossil and Fitbit? Magazines, $2.1 billion acquisition of fitness tracking company Fitbit, embraced healthcare as the next big battleground. © 2021 TIME USA, LLC. For the life of me, why would they spend all this money to buy these two well known companies, if they are not willing to put the time and money into their own WearOS? Fitbit devices have been tracking wearers’ health metrics for over a decade, cataloging behaviors like steps taken, calories burned and exercises performed. © 2021 Digital Phablet News & Media Limited. The general reasoning is this: Google has a serious hole when it comes to wearables and it hasn’t been able to develop its own way out of it, so it needs to buy its way out. On November 1, Google paid $2.1 billion to acquire Fitbit, one of the most well-known fitness tracker brands in the world. Google is gaining a massive assortment of patents and know-how from Fitbit, and more importantly, nearly a decade of user data. Subscribe for just $19.99. Google’s healthcare efforts have been decidedly quieter. This is where Google can help. Google’s privacy reassurances are not binding. The announcement … In fact, before Apple introduced Apple Watch in 2014, Google first announced the Android Wear watch program, but it has lagged. Earlier this year, they spent $40 million to buy a fashion-related brand of Fossil, a technology related to smartwatches, but the technical content was not disclosed. What else does it get out of the Fitbit deal? By signing up you are agreeing to our, Secret Cost of Google's Data Centers: Billions of Gallons of Water, The Secret History of the Shadow Campaign That Saved the 2020 Election. 6 Work Rules Set by Elon Musk That He Believes In, Great Read! The healthcare tech space could be worth $24 billion by 2020, according to an estimate from Statista. Through its health-focused Verily subsidy, Google has been working on cardiovascular health, diabetes and more, but it hasn’t been publicly pushing healthcare as a business proposition. And this system still has many shortcomings compared to the increasingly mature watchOS; at least the difference between the two is definitely greater than Android and iOS. Some Fitbit users may be concerned about Google’s own weight, sleep, heart rate, etc., although both companies promise Fitbit’s user data will not be used for Google ads, users can migrate or delete data themselves. Envato Elements Review 2021 – Is It Really Worth Your Money? With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. Not to mention Apple Watch uses Apple’s self-developed chips and the various Android Wears on the market, in Wired’s words, “still need to rely on some of Qualcomm’s unremarkable products.”. After days of rumors and reports, Fitbit has been acquired by Google for $2.1 billion. Google has already spent big money on wearable tech — in 2019, it paid $40 million for technology and personnel from watchmaker Fossil Group’s research and development team, for instance. But the wearables pioneer needs money to stay competitive in the red-hot industry it helped spawn. Google said it would pay $7.35 a share to buy Fitbit… Fitbit’s technical chops could help Google come up with a wearable to take on its biggest rivals. But Google already has plenty of hardware and software chops. The most obvious potential lure is the health data of millions of Fitbit customers. But the company’s products haven’t matched up to the competition, like the Apple Watch or Samsung’s Galaxy Watch. Google makes software that is used in the wearable devices of other manufacturers; however, the products have not gained traction due to stiff competition from Apple, Fitbit, Samsung, and others. If playback doesn't begin shortly, try restarting your device. Gartner senior analyst Alan Antin says Google could benefit from Fitbit’s expertise in working alongside corporate partners and other stakeholders in the healthcare world. Fitbit Charge 4 (2020) But the next move for Fitbit took everyone off guard. In announcing its planned $2.1 billion acquisition of fitness tracking company Fitbit, Google said the deal will “help spur innovation in wearables” — at least, that’s how Senior Vice President of Devices & Services Rick Osterloh put it in a blog post. Samsung AI Vacuum Cleaner Review, Price, and Specifications, How To Get Neymar Fortnite Skin? Google Agreed to Buy Fitbit — Just Like Reports Said It Would. Advertisers already take educated guesses at your health status, with apps like period trackers sharing your info with Facebook and others. Subscribe to our newsletter below and never miss the latest Technology updates. Google confirmed on Friday that it has agreed to buy Fitbit, a health tracking device company, for a purchase price of $2.1 billion, a 19% premium to the latter’s closing offer on Thursday. Google bought Fitbit for a variety of reasons. Please attempt to sign up again. Why Did Google Buy Fitbit? Google’s deal with Fitbit to buy Fitbit gave Google a good boost. Even though it started too late, Google even has Fitbit, and it is not so good to catch up with Apple. You can unsubscribe at any time. Google says it is acquiring Fitbit to … Google to Buy Fitbit for $2.1 Billion to Boost Hardware (Bloomberg) -- Alphabet Inc.’s Google agreed to buy smartwatch maker Fitbit Inc. for $2.1 billion in … Of course, this batch of data is also controversial. Is Google Blurring Images of Gaza On Google Maps? Fitbit is now to be part of Google’s range of companies. Alphabet, the parent of Google, announced it will buy the fitness and wearable device company Fitbit in a deal valued at $2.1 billion.. Google has an ever-growing array of hardware devices, including phones, computers, and smartwatches, and expanding into health and fitness wearable technology could fill a gap in Google’s lineup, according to reports. The transaction is subject to approval by shareholders and regulators. All rights reserved. Google does not sell any device. Google's parent company Alphabet (GOOG, GOOGL) is acquiring health tracking company Fitbit (FIT) for $2.1 billion. Google is in the process of buying Fitbit for $2.1 billion. “But the [healthcare partnerships] I mentioned are ones you can’t really get into quickly. Seeing that Apple has become the leader in wearable devices, Google seems to speed up catching up. What’s more, Fitbit’s data of up to 28 million users is a valuable resource. kids, Fitbit Ace, along with the Fitbit … In a move that makes its growing wearable ambitions crystal clear, Google is buying Fitbit for $2.1 billion. If completed, the move would spell the end of an independent Fitbit, a 12-year-old hardware firm credited with popularizing the self-quantifying phenomenon that has so many of us comparing our daily step counts against our friends and loved ones. You have reached your limit of 4 free articles. Simply put: Fitbit will have the resources it needs to thrive under Google. * The request timed out and you did not successfully sign up. Subscribe for just $19.99. How Google plans to renovate Fitbit for future. – Research Confirms The Link. Subscribe for just $19.99. Powered by BudLoop, We use Cookies to provide you better experience on our website, allow the consent to cookies. In the year 2014, Google launched Wear OS an operating system designed for smartwatches and wearables and had plans to venture into space with hardware too. Fitbit uses user health data to count workouts and bind to social networks like Facebook and Twitter. This is the way how the big tech is keeping big, acquiring, acquiring, and acquiring. And we can only do that by working with the largest players in healthcare.”, For Google, Fitbit’s healthcare ties, along with its established base of users, might be exactly what it needs to give its wearable device strategy a shot in the arm. Alphabet Inc. ’s Google agreed to buy smartwatch maker Fitbit Inc. for $2.1 billion in cash, a move that could shore up the internet giant’s … At first, google approached Fitbit with a 1.9 Billion deal which Fitbit declined saying that’s undervalued then at the second attempt they offered 2.1 billion for the takeover. Now Fitbit has come full (activity) circle, and is being bought by one of the largest software companies in the world. All Rights Reserved. Please try again later. Subscribe for just $19.99. Could this … Still, Osterloh promises that “Fitbit health and wellness data will not be used for Google ads.” What else, then, does Fitbit have that’s attractive to Google? “And, you know, our goal is to make this stuff that we’re working on available and accessible to as many people around the world. “There’s the lesser known side business-to-business side of Fitbit, which is their partnerships with health insurance companies and direct corporate wellness programming,” says Gartner senior analyst Alan Antin. So far, Google’s work on smartwatches has been limited to providing WearOS operating systems for other smartwatches. Visit our, Get Exclusive Technology Updates Right in your Inbox! “The healthcare system is incredibly complex and it takes working with a lot of different big players to have a big impact,” Park said in an October interview with TIME. Google’s rivals, most notably Apple, have embraced healthcare as the next big battleground in the tech world, attracted by the promises of big profits for those who can help simplify a byzantine system. Digital Again, it is all about data, which is diamond, gold and oil and virtual currency at once, and Google is striving to stay a global data AI company. Thank you for reading TIME. Google has completed its $2.1 billion acquisition of Fitbit, the company announced today. You have 3 free articles left. That’s just the kind of thing Google, fundamentally an advertising company, needs to further build out its profile of, well, you. He just made the first public appearance, WhatsApp For iOS Will Let You Watch Netflix on Whatsapp, All About Sims 5 Price, Release Date, DLC and Updates, Microsoft Office 2019 Activation Key Free In Just One Click, Free Chegg Answers 2021 – Unblur Chegg Answers Online (Working), 18 English Words You Have Been Pronouncing Wrong, Windows 10 Activation Key Download For Free in One Click, 13 Differences That Will Enhance Your Knowledge. Discussion. Why did Google buy Fitbit? In recent years, Google’s new products in the field of intelligence have been, Pixel mobile phones, smart speakers, smart thermostat Nest, smart camera Clips, and a variety of entertainment equipment, but in the field of wearables is still a blank. You have a limited number of free articles. Fitbit and Google know this. The Rise and Rise of Wearable Technology. Why did Google buy a fitness tracker firm Fitbit instead of creating a product line? It’s also a familiar play: Google purchased portions of smartphone maker HTC in 2017 for $1.1 billion, jumpstarting production of its Pixel smartphones. Rumours and whispers quickly turned into an announcement that Google was to buy Fitbit. “If they wanted to have their own smartwatch, they certainly have the distribution channels, they have all the software and hardware capabilities to do their own, and they could go and enter that market pretty quickly,” says Antin. Fitbit announced that entered into an agreement to be acquired by Google for … Early Friday morning, Google announced on its official blog that it will acquire US-based fitness company Fitbit. It’s easy, but Google has to get involved in the health field, and there is a way to compete with Apple Watch on the wrist. (We never spam! Microsoft Cloud PC Pricing To Be $59 Monthly, Is Best Jeanist Dead ? – All You Need To Know About, Suez Canal Live View Stream with Map and Updates About Blocked Ship, Find Coronavirus Vaccination Location in the US Through Apple Maps, How To Delete Whatsapp Account on Android and iPhone Easily, Sony Officially Stops Manufacturing PS4 and PS4 Pro To Boost PS5 Sales, Jack Ma disappeared? I n announcing its planned $2.1 billion acquisition of fitness tracking company Fitbit, Google said the deal will “help spur innovation in wearables” — at least, that’s how Senior Vice … “Those are things that are a little bit harder for a company like Google to do.”, For his part, Fitbit CEO James Park has said that, for technology companies seeking success in the healthcare world, relationships like Fitbit has are key. An unexpected error has occurred with your sign up. With the acquisition of the maker of activity trackers, Google … Google confirmed on Friday that it has agreed to buy Fitbit, a health tracking device company, for a purchase price of $2.1 billion, a 19% premium to the latter’s closing offer on Thursday. This is your last free article. It’s already working with insurance companies, other firms and even the government of Singapore to provide customers, employees and citizens with fitness trackers in what are likely lucrative deals, for instance. Soccer ball and Cup, Are Cats Causing Brain Cancer and Tumor? Fitbit, however, has been doing exactly that. Magazines, COVID-19 Presents Nepal's Sherpas With Their Toughest Climb, Digital Fitbit has one of the most enviable caches of health data in existence. One explanation as to why Fitbit is a failing business is that it was unable to develop the supporting applications, experiences and services to bundle behind the hardware. “By working closely with Fitbit’s team of experts and integrating the best AI, software, and hardware, we can help drive innovation in wearables and build products that benefit more people.” Rick, Senior Vice President, Google Devices and Services Osterloh, said in the acquisition statement. positively about the potential for upside with the stock ahead of the acquisition, and said that the stock looked cheap at $6.36. Write to Patrick Lucas Austin at patrick.austin@time.com. Just as the HTC Smart Watch team’s acquisition to develop its own Pixel, the acquisition of Fitbit, which has already made a name in the health tracking field, will allow Google to catch up with competitors faster. Why has Fitbit sold to Google? To me, that’s where they saw the bigger value.”. Reuters. With the revenue from smartwatch sales industry-wide set to double to $34 billion by 2023, the company’s urgency is understandable. Xiaomi Vacuum Cleaner G10 Review: Is It Worth Buying? Why did Google buy Fitbit? I could not be more excited for what lies ahead.” Google’s efforts in this space, are realised through wearOS, an extension of Android, to wearable products.