Fitbit is buying Pebble, report claims

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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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