By Mengwen Li (University of Warwick), Leon Fisseler (University of St. Gallen), Martin Dai (Western University), Helen Chen (NYU Stern), Sriram Potluri (University of Southern California)
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Summary
Google has completed its acquisition of Fitbit, the advanced health and fitness smartwatch maker, in a deal worth roughly $2.1B.
Google’s acquisition solidifies its move into the healthcare technology wearables market and renews its direct competition with Silicon Valley neighbour Apple inc. Fitbit has over 29 million active daily users and has solidified its positioning in the market with its new watch Fitbit Sense.
However, Google has historically had a mixed track record when it comes to hardware acquisitions, as they have failed to capitalize on the pre-existing products offered by their targets.
Click here to read our take on the deal.