Google is known for making power moves when it comes to acquisitions, and they’ve just done it again. On Friday, Google announced it would acquire Fitbit at $7.35 per share in an all-cash deal totaling $2.1 billion. According to a press release from Fitbit, we can expect the deal to close in 2020 assuming US regulators are on board with the decision.
“More than 12 years ago, we set an audacious company vision – to make everyone in the world healthier. Today, I’m incredibly proud of what we’ve achieved towards reaching that goal. We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life,” said James Park, co-founder and CEO of Fitbit. “Google is an ideal partner to advance our mission. 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. I could not be more excited for what lies ahead.”
But as is the case in all things Google-related, many people are worried about their data. Google made sure to address this right out of the gate on their blog, The Keyword.