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Google confirms plans to buy fitness tech company Fitbit in $2.1 bln deal

01 November 2019 20:31 (UTC +04:00)

Google will be buying Fitbit for $2.1 billion, the two companies said in press statements on Friday, APA reports citing Sputnik.

"We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life," company cofounder and CEO James Park said in a statement. "Google is an ideal partner to advance our mission," he added.

The businessman added that "with Google's resources and global platform, Fitbit will be able to accelerate innovation in the wearables category."

Fitbit confirmed Friday that Google had offered it $7.34 per share, close to 20 percent above the company's closing price on the stock market on Thursday. The company had already enjoyed an over 40 percent rise in share price following reports that Google had made an offer to buy the company.