Following rumors that began swirling just a couple of days ago, Google announced Friday that it has “entered into a definitive agreement” to acquire Fitbit in an all-stock deal valued at $2.1 billion. That brings another high-profile brand under the Alphabet umbrella, following the acquisition of Nest, Waze, and YouTube.
Joint press releases don’t specify what will happen to the Fitbit name and company, so it’s unclear what this deal means for either WearOS or the Fitbit devices that are already on the market. Most likely, we’ll see a merging of the two brands along the lines of Nest, with some products continuing to be sold independently and others, like the Nest Home Hub and Nest Wi-Fi, merging with Google’s own products.
