Google Parent Company Alphabet Looking To Acquire Fitbit [Report]
Google’s stop-start wearable business might be set to get a boost following a new report from Reuters, which has the company considering buying Fitbit.
Until Apple came along with the Apple Watch, Fitbit was the biggest player in the wearable game. It still pretty much as the basic fitness tracker market sewn up and Google Wear might benefit from that kind of expertise.
According to the report Google’s parent company, Alphabet, is considering the purchase but it isn’t clear how much money could change hands or even if there is any likelihood of the deal going through.
There is no certainty that the negotiations between Google and Fitbit will lead to any deal, the sources said, asking not to be identified because the matter is confidential. The exact price that Google has offered for Fitbit could not be learned.
Google and Fitbit declined to comment.
Firbit’s recent strength has been doing deals with health insurers but the company cut its 2019 revenue forecast back in July. The Versa Lite smartwatch is said to be experiencing lower than anticipated sales, something that isn’t helping the bottom line one bit. Whether that backdrop could lead to Fitbit considering a move from Google and Alphabet however, nobody knows.
Google currently doesn’t make any smartwatches under its own brand, instead making Android Wear available to OEMs. That hasn’t gone too well in recent years, however, with Apple Watch the undoubted king of the hill right now.