Google completes Fitbit acquisition for $ 2.1 billion

0
5

Fitbit lost market share to Apple, Xiaomi, Samsung and Huawei.

Alphabet Inc’s Google has completed its $ 2.1 billion acquisition of wearable device maker Fitbit Inc, the companies said Thursday.

The deal had raised concerns about Google’s market power and the use of people’s health data in targeted advertising. The companies got antitrust approval from the European Union in December after Google agreed to restrictions on how it will use customer health data.

Newsbeep

“This deal has always been about devices, not data, and we’ve been clear from the start that we will protect the privacy of Fitbit users,” Google said in a blog post Thursday. Once the market leader in wearable devices, Fitbit has lost market share to Apple, Xiaomi, Samsung and Huawei in recent years.

ALSO READ  Google signs $ 2.1 billion Fitbit deal as US, Australia continue research

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here