Wellness gadget marker Fitbit is being purchased by Google for $2.1bn (£1.6bn).
The move enables Google to venture into the market for wellness trackers and brilliant watches. It comes when misfortune making Fitbit has been hoping to venture into different regions.
“Google is a perfect accomplice to propel our crucial,” James Park, fellow benefactor and CEO of Fitbit.
The offer qualities Fitbit at $7.35 an offer, a premium of about 19% to the stock’s end cost on Thursday.
“With Google’s assets and worldwide stage, Fitbit will have the option to quicken development in the wearables classification, scale quicker and make wellbeing significantly increasingly open to everybody,” said Mr Park, who established Fitbit 12 years back.
The organization, one of the main venders of tech-empowered wellness trackers, was esteemed at more than $4bn at the hour of its buoyancy in 2015.
It has sold in excess of 100 million gadgets, however has battled with winding down interest for its items as different organizations enter the market. It put itself available to be purchased a month ago.
Its offers have bounced 40% since Monday, when Reuters revealed the enthusiasm from Google.
James Park established Fitbit 12 years back
The exchange is relied upon to be finished in 2020, pending endorsement by the board and controllers.
Controllers in the US and abroad have been investigating acquisitions by the tech monsters, in the midst of developing worries about imposing business model power.
Fitbit said its “wellbeing and health” information would not be utilized for Google adverts and promised to keep up solid security insurances.
However, investigators said the wellbeing information was key the arrangement.
“The profound wellbeing and wellness information, combined with the 28 million dynamic clients on the Fitbit stage, offer a colossal worth,” Craig Hallum investigators wrote in a note refered to by Reuters.