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MONOPOLY? Google to Acquire Fitbit for $2.1 Billion

Do Monopoly charges exist anymore in America? If not they should.

Google announced plans on Friday to acquire Fitbit, the world’s leading maker of wearable fitness activity trackers.The deal, worth about $2.1 billion, is one of Google’s (GOOGL) largest acquisitions. The wearable market is growing quickly.

Although Google makes some hardware, including Pixel phones and Nest devices, it hasn’t made much headway into smartwatches and other wearable devices.”With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone,” Fitbit co-founder and CEO James Park said.

In a press release, Fitbit emphasized its commitment to data privacy, saying it will remain transparent about the data it collects and why.

You can read more about the proposed buyout HERE.

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