Acquisition of Fitbit brand

Acquisition of Fitbit brand
Question: Which of the following company has recently acquired the smart watch making brand Fitbit for $2.1 billion?
(a) Microsoft
(b) Amazon
(c) Google
(d) Fossil
Answer: (c)
Related facts:
  • On 1st November, 2019, Google announced to buy smart watch making company Fitbit for USD 2.1 billion in a deal giving the US tech giant a fresh entry in the wearable technology space.
  • Fitbit is a trusted brand that supports more than 28 million active users around the globe.
  • Google aspires to create tools that help people enhance their knowledge, success, health and happiness. This goal is closely aligned with Fitbit’s long-time focus on wellness and helping people live healthier, more active lives.
  • The companies said the Fitbit platform would remain platform-agnostic and continue to serve Apple’s iOS devices as well as those powered by the Google Android system.
  • The Alphabet, Google parent company is largely absent from wearables gadgetry, following its failed Google Glass project, but produces the WearOS software used by makers of these devices.
  • Analysts have however pointed out that Google may benefit from the large Fitbit database for health Apps and Artificial Intelligence.

Links:

http://ddnews.gov.in/sci-tech/google-eyes-expansion-wearable-tech-buy-fitbithttp://ddnews.gov.in/sci-tech/google-eyes-expansion-wearable-tech-buy-fitbit

https://www.theverge.com/2019/11/1/20943318/google-fitbit-acquisition-fitness-tracker-announcement

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