Mere days after rumors began to percolate through the internet, Google has confirmed that it’s acquiring wearable maker Fitbit. According to Fitbit, the sale price values the company at $7.35 per share for a total of $2.1 billion. While Google’s hardware chief Rick Osterloh says this is an opportunity to invest even more in Wear OS, it could just as easily be a sign that Wear OS is doomed.
The deal is expected to close in 2020 after the usual regulatory approvals. Neither firm expects much pushback. A Pixel watch probably isn’t in the cards for 2020, but it could happen in 2021.
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