Google acquires Fitbit

Alphabet the parent company of google is signing a deal to acquire Fitbit a wearable fitness device maker for US $2.1 billion. As per Fitbit, the tech giant is paying the large value for the company as a total sum for the shares at the rate of $7.35 per share.

Google has always been keen to establish its presence in an existing category and its not the first time the tech giant has acquired. This deal could help google compete Samsung and Apple in wearable technology market. As the news of the deal came into highlight, along with the deal the question for the privacy also came to a surface level. To which the company confirmed that the health data collected by the will not be used to sell ad

According the announcement the deal is expected to be closed in 2020.

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