Alphabet acquired Fitbit for $2.1 billion, a transaction completed in January 2021, structured as all cash.
Fitbit operates in Hardware / Wearables, is based in San Francisco, California, USA. Fitbit was a leading maker of wearable fitness trackers and smartwatches with a large base of health and activity data. Google acquired it to expand into wearables and combine Fitbit's device and health-and-wellness expertise with Google's software, AI and hardware. Google made binding commitments that Fitbit health data would not be used for Google ads and would be kept separate from advertising data, addressing regulatory privacy concerns.
Google combined Fitbit's wearables technology and health-and-wellness innovation with Google's AI, software and hardware to compete more strongly in the wearables market, with privacy commitments on health data.
Google devices
Advisory firms were not disclosed for this transaction.