Tag Archives: Fitbit

Google on Thursday closed its acquisition of wearables company Fitbit, despite an ongoing investigation by the Justice Department. Here are five things to know about the $2.1 billion deal: 1. Google, which posted $46 billion in revenue for 2020’s third quarter, in November 2019 announced plans to acquire Fitbit for $7.35 per share in cash, paying an estimated $2.1 billion in total to stockholders. The deal could hint at Google’s larger ambitions in healthcare, as the company has been building… Source link

Google said it has completed its $2.1 billion acquisition of Fitbit Inc., a deal that would let the search giant push more deeply into the wearable-device and health-data businesses, as it continues to face antitrust scrutiny. The announcement on the deal closing came after European Union antitrust officials last month approved the acquisition with conditions aimed at protecting users’ health data and preserving competition in the wearable-tech sector, clearing one… Source link

Google has closed its deal to buy Fitbit, the tech giant announced Thursday. The company announced in November 2019 plans to acquire the fitness tracking company to bolster its wearable capabilities. Google said it would acquire Fitbit for $7.25 per share in cash, valuing the company at $2.1 billion. Fitbit launched in 2007 and was considered a pioneer of the consumer fitness tracking market, quickly becoming the market leader. Other players have since entered the market including Apple,… Source link

Alphabet Inc’s Google has completed its $2.1 billion acquisition of wearable device maker Fitbit Inc, the companies said on Thursday. The deal had triggered concerns over Google’s market power and the use of people’s health data in targeted advertising. The companies won antitrust approval from the European Union in December after Google agreed to restrictions on how it will use customers’ health related data. “This deal has always been about devices, not… Source link

WASHINGTON (Reuters) – Search and advertising giant Google has closed its deal to buy Fitbit, the companies said on Thursday, even as the Justice Department said it was continuing its probe of the $2.1 billion transaction. The Justice Department, which sued Alphabet Inc’s Google in October for allegedly violating antitrust law in its search and search advertising businesses, said it “has not reached a final decision about whether to pursue an enforcement action” regarding the Fitbit… Source link

WASHINGTON (Reuters) – Search and advertising giant Google closed its deal to buy fitness tracking company Fitbit, the companies said on Thursday, even as U.S. and Australian competition regulators said they were continuing probes of the $2.1 billion transaction. The Justice Department, which sued Alphabet Inc’s Google in October for allegedly violating antitrust law in its search and search advertising businesses, said it “has not reached a final decision about whether to pursue an… Source link

WASHINGTON (Reuters) – Search and advertising giant Google closed its deal to buy fitness tracking company Fitbit, the companies said on Thursday, even as U.S. and Australian competition regulators said they were continuing probes of the $2.1 billion transaction. The Justice Department, which sued Alphabet Inc’s Google in October for allegedly violating antitrust law in its search and search advertising businesses, said it “has not reached a final decision about whether to pursue an… Source link

WASHINGTON (Reuters) – Search and advertising giant Google closed its deal to buy fitness tracking company Fitbit, the companies said on Thursday, even as U.S. and Australian competition regulators said they were continuing probes of the $2.1 billion transaction. The Justice Department, which sued Alphabet Inc’s Google in October for allegedly violating antitrust law in its search and search advertising businesses, said it “has not reached a final decision about whether to pursue an… Source link

Jan 14 (Reuters) – Fitbit Inc has completed its merger with Alphabet Inc’s Google, the companies said on Thursday. The $2.1 billion deal had triggered concerns over Google’s market power and the use of people’s health data in targeted advertising. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur) Source link

Fitbit Inc. FIT, announced Thursday morning that its acquisition by Alphabet Inc.’s [s; GOOGL] GOOG, +0.80% Google has officially closed. Alphabet agreed to pay about $2.1 billion, or $7.35 a share, to acquire Fitbit. The deal was first announced in November 2019 but faced regulatory pushback, particularly in the European Union. European regulators who were looking into the deal eventually gave their blessing last month after… Source link