Fitbit Closes in on Deal to Acquire Smartwatch Maker Pebble 

Media reports suggest that the price could be in the range of $35-40 million.

Tech News
1 min read
 Fitbit Closes in on Deal to Acquire Smartwatch Maker Pebble 

The Quint DAILY

For impactful stories you just can’t miss

By subscribing you agree to our Privacy Policy

Fitness wearables manufacturer Fitbit is closing in on a deal to acquire smartwatch manufacturer Pebble, reports The Information. The publication’s sources reveal that the deal would include Fitbit taking over Pebble’s intellectual property including its in-house smartwatch operating system. However, if the report is to be believed Fitbit will pull the plug on the Pebble brand when the deal finally goes through.

The report does not reveal any price for the deal but says its sources have been informed that it is expected to be for "a small amount”. However, other media reports suggest that the price of the deal could be in the range of $35-40 million.

Pebble Time Steel Smartwatch. (Photo: The Quint/@2shar)

Things haven’t been going great for the the smartwatch company. Earlier in the year, it laid off 25 percent of its workforce. Its CEO blamed cash crunch for the decision.

Money is pretty tight these days.
Eric Migicovsky, CEO, Pebble

The takeover will come as a surprise to many market analysts who claimed strong projected growth for Pebble. The smartwatch company , a Kickstarter project initially, had raised more than $25 million for its Pebble Time smartwatch.

(Source: The Information)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

Read Latest News and Breaking News at The Quint, browse for more from tech-and-auto and tech-news

Topics:  Smartwatch   Fitbit   Pebble 

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
More News