Although Fitbit has brought new technologies to its wearables over last couple of years, Apple has been the market leader when it comes to sales figures. As a result, rumors for a while suggested that Fitbit was looking at suitors to acquire its business. And now, a report from Reuters has claimed that Google is interested in buying the wearable maker to bring products under Pixel brand.
According to the report, both companies are in talks to settle on the amount. Since the report came out, Fitbit experienced 30 percent increase in its value and unsurprisingly, the acquisition will be one of the biggest in the industry.
This news doesn’t come off as a massive surprise given both companies recent track record. Although Google has tried to enter the market, it has failed to keep up with Apple and a major design didn’t help the Wear OS significantly. On the other hand, Fitbit has failed to keep up with Apple in the recent years.
Most importantly, Google has been looking for ways to create a strong ecosystem for its devices. The company reportedly wants to bring its own Pixel brands of smartwatch in the future. The rumors started surfacing after Google acquired $40 million worth of smartwatch technology from Fossil earlier this year.
This won’t be first time Google will acquire technologies from another company to bring its products as Google acquired HTC’s smartphone business to bring its technology to Pixel smartphones. As Fitbit is struggling to create sustainable smartwatch business, it won’t be surprising if the acquisition goes through in the coming weeks.