Flash Report 3 minutesRegister for Free AccessGoogle to Acquire Wearable Device Maker Fitbit for $2.1 Billion in Cash Coresight Research November 4, 2019 What's InsideOn November 1, 2019, Fitbit announced an agreement to be acquired by Google for $7.35 per share in cash, representing a deal value of approximately $2.1 billion. The price represents a 19% premium to Fitbit’s closing share price on October 31 and a multiple of 1.4 times FY2018 revenues. The acquisition will allow Google to combine the newly acquired hardware maker with Google’s Android operating system (OS) for smartphones and smartwatches, improving the company’s ability to optimize hardware and software to better compete with market leader Apple. Google acquired Fossil’s smartwatch technology in January 2019. The transaction is expected to close in 2020, subject to customary approvals. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Weekly US and UK Store Openings and Closures Tracker 2024, Week 14: Aldi Announces UK Store Expansion PlanRetail-Related Activities Stutter: China Consumer TrackerThe True Cost of Apparel Returns: Alarming Return Rates Require Loss-Minimization SolutionsMarket Navigator: US Drugstore and Pharmacy Retailers—A Strong Focus on Healthcare Expansion in 2024 and Beyond