Google completes purchase of Fitbit for $2.1bn

International | Latest News | Mergers & Acquisitions | Technology

Google has completed its $2.1bn acquisition of Fitbit, the company announced yesterday.

The news follows the EU’s announcement at the end of 2020 that it had approved the deal, after Google made a series of commitments regarding the use of customer data.

Google cannot use Fitbit data from users in the European Economic Area, such as GPS and health data for ad targeting.

Alphabet – Google’s parent company – saw its shares close fall 1% by the close on Thursday. Google is expected to retain Fitbit’s 1,800 employees across the world.

Rick Osterloh, Senior Vice President, Devices & Services at Apple commented: “For more than a decade, Fitbit has helped people around the world live healthier, more active lives. A clear pioneer in the industry, Fitbit built a vibrant community of more than 29 million active users by creating amazing wearable devices and immersive wellness experiences. Today, I’m excited to announce that Google has completed its acquisition of Fitbit and I want to personally welcome this talented team to Google.

“Technology can change the way people manage their health and wellness, and that’s especially important these days. We’ll work closely to create new devices and services that help you enhance your knowledge, success, health and happiness. Your privacy and security are paramount to achieving this and we are committed to protecting your health information and putting you in control of your data.”

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