Fitbit is buying Pebble, report claims


Health and fitness wearables maker Fitbit is buying smartwatch maker Pebble, The Information reports, citing three people familiar with the deal. 

Pebble, which started out as a Kickstarter project in 2012, captured a portion of the smartwatch market early, before heavyweights such as Apple and Samsung launched their first watches. 

However, the company has most recently been struggling financially, laying off a quarter of its workers in May 2016.

The Information doesn’t have a price for the deal, but Engadget reports Fitbit is buying Pebble for a paltry $34 – $40 million, which is orders of magnitude lower than some previous offers Pebble has had on the table — and refused.  Read more…

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