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Google Seals $2.1 Billion Acquisition of Fitbit

Fitbit has misplaced market share to Apple, Xiaomi, Samsung and Huawei.

Alphabet Inc’s Google has accomplished its $2.1 billion acquisition of wearable machine maker Fitbit Inc, the businesses mentioned on Thursday.

The deal had triggered issues over Google’s market energy and the usage of folks’s well being knowledge in focused promoting. The businesses gained antitrust approval from the European Union in December after Google agreed to restrictions on the way it will use prospects’ well being associated knowledge.

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“This deal has all the time been about units, not knowledge, and we have been clear for the reason that starting that we are going to shield Fitbit customers’ privateness,” Google mentioned in a weblog submit on Thursday. Fitbit, as soon as the chief within the wearable units market, has misplaced market share to Apple, Xiaomi, Samsung and Huawei lately.

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