Google acquires wearable giant Fitbit

After a month of rumors, this morning Google and Fitbit announced that the former has officially purchased the wearable giant for roughly $2.1 billion, or $7.35 per share, in cash.

Fitbit stressed that its devices would remain platform agnostic across the Android and iOS ecosystems. Still, a blog post from Google discussing the acquisition made it clear that we can also expect to see some Google wearables in the future.

“Over the years, Google has made progress with partners in this space with Wear OS and Google Fit, but we see an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market,” Rick Osterloh, SVP of devices and services, wrote in the Google blog post. “Fitbit has been a true pioneer in the industry and has created engaging products, experiences and a vibrant community of users.”