Google to acquire Fitbit for $2.1 billion in major health tech deal
SAN FRANCISCO — Google parent company Alphabet announced on Friday it will buy Fitbit for $2.1 billion — a massive deal that will pit Google squarely against Apple (AAPL) in the market for health and fitness tracking.
The deal immediately transforms the market for fitness trackers and smartwatches, which are increasingly being seen as clinical tools for monitoring health and gathering reams of health data.
“With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could not be more excited for what lies ahead,” James Park, Fitbit’s chief executive officer, said in a statement announcing the deal.
The acquisition makes Google the custodian of reams of people’s health and wellness data that’s been collected by Fitbit. Google’s announcement said that it will not allow advertisers to use Fitbit’s health and wellness data to target ads on Google. The company said it would also allow Fitbit users to review, move, or delete their personal data. [...]