In one of the fastest takeover deals in the face of antitrust problems, Google has finally acquired the watchmaker Fitbit. The two companies began takeover talks more than 14 months ago, but the offer has been subjected to severe scrutiny by regulators such as the EU Commission for privacy concerns.
The final acquisition means that the completion of the transaction has cleared the way, but it is clear that Google had to make a series of “binding commitments with global regulators” to finally calm the privacy issue. Considering how long the merger between T-Mobile and Sprint was allowed last year, this is a record time.
The acquisition will enable the search giant to provide more than $2 billion in funding for the well-known wearable device manufacturer founded in 2007.
Google said it plans to work closely with Fitbit to “create new devices and services” to help you “enhance your knowledge, success, health, and happiness.”
Rick Osterloh, Google’s senior vice president of equipment and services, did not elaborate on the technology giant’s future hardware plans in the official blog announcing the completion of the acquisition.
However, the post clearly mentions the recently released Fitbit Sense and Inspire 2, which seems to indicate that their successor is likely to be in preparation.
In addition, there is no indication that Google will try to integrate its Wear OS and Fitbit OS software platforms. However, it is too early to imagine their future cooperation plan.
