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| Google to Buy Fitbit for $2.1 Billion | Google to Buy Fitbit for $2.1 Billion |
| (32 minutes later) | |
| Google is acquiring Fitbit, the maker of fitness-tracking devices, for $2.1 billion as the world’s largest tech companies expand further into health in pursuit of growth. | Google is acquiring Fitbit, the maker of fitness-tracking devices, for $2.1 billion as the world’s largest tech companies expand further into health in pursuit of growth. |
| The deal represents an aggressive attempt by Google to bolster its lineup of hardware products, which already includes smartphones, tablets, laptops and smart speakers. Fitbit makes a lineup of fitness-tracking devices, but has faced stiff competition from Apple after the introduction of the Apple Watch. | The deal represents an aggressive attempt by Google to bolster its lineup of hardware products, which already includes smartphones, tablets, laptops and smart speakers. Fitbit makes a lineup of fitness-tracking devices, but has faced stiff competition from Apple after the introduction of the Apple Watch. |
| The deal is likely to face scrutiny from government regulators. Google has been the subject of antitrust investigations in Europe and the United States. | The deal is likely to face scrutiny from government regulators. Google has been the subject of antitrust investigations in Europe and the United States. |
| In a statement on Friday, Fitbit said Google was paying $7.35 per share in cash, or about $2.1 billion. | In a statement on Friday, Fitbit said Google was paying $7.35 per share in cash, or about $2.1 billion. |
| In recent years, the biggest tech companies have been expanding into health products and services. With the introduction of Apple Watch in 2014, the company has been adding new services for people to track their health. Amazon has also expanded its offerings in this field, including acquiring the online pharmacy company PillPack. | |
| This is a developing story. It will be updated. | This is a developing story. It will be updated. |