Fitbit acquires Pebble's health tracking software assets

Fitbit acquires Pebble's health tracking software assets

Posted by P. Charitha on December 9th 2016

Its official and according to the co-founder and CEO of fitbit ,James Park   the digital health and fitness-tracking company has just bought the key assets ( only software )from the smart watch start-up Pebble. This is seen as an opening to expand its capabilities and extend their leadership position in the wearable’s category. The deal was apparently closed on December 6th.According to a business report fitbit bought Pebble for less than $40 million dollars, and has retained jobs mostly to software engineers at Pebble but the founder and CEO Eric Migicovsky will not be with Pebble anymore.
 
The acquisition is  a part of fitbit’s expansion plan of its platform and taking over Pebble’s software assets will take the smart watch platform to a larger consumer base especially when the smart watch  industry is in slight slump. Companies like Motorola, LG, and Huawei have not releases their new smart watches, Microsoft is no longer selling its health-tracking Band, Apple Watch has seen a decline of 70% in its shipments according to Global Research firm IDC and fitbit itself has seen a decline in its third-quarter earnings .
 
California based start-up Pebble was first launched in 2012 on Kickstarter and gained fame for being a wildly successful crowd funded project. Its open-sourced, utilitarian smart watches, with their E-ink displays and relatively long battery life, won over the early tech adopter crowd, as well as app developers who wanted to build apps for Pebble.
 
That apart, Pebble had also focused more on health and fitness tracking in its recent product launches. Despite all this it had been struggling financially and this acquisition by fitbit is seen as a welcoming move by the techies working at Pebble and also establishing fitbit’s place in the smart watches wearing segment. 

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