Fitbit considering a bid for PebbleBy Robin-Leigh Chetty 1 December 2016 | Categories: news
Fitbit appears to be making a bigger play in the smartwatch market. A fitness tracker-focused company for the most part, anonymous sources have told The Information that Fitbit is eyeing the acquisition of Pebble. The latter is a well-known smartwatch maker, having released several iterations of its simply-designed device in recent years.
Precisely how Fitbit would leverage the acquisition remains to be seen, with the manufacturer already releasing its Blaze smartwatch into the local market. According to Engadget, it is in fact Pebble which has been looking to be purchased, having recently forced to lay-off 25% of its employees.
As for how much Pebble will go for, it is believed that the company is valued at $25 million, but the purchase could inflate to as much as $40 million if it goes through. That's quite a bit less than the estimated $740 million that Citizen wanted to pay for Pebble last year. As such, Fitbit may be getting the smartwatch maker for a bargain price.
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