Fitbit Said To Be Eyeing Pebble Acquisition
Reports out of The Information say that fitness band giant FitBit is looking to take one of their competitors off the map by buying crowd-sourcing rival Pebble.
The acquisition would see Fitbit take control Pebble’s intellectual property, such as its operating system, and incorporate it into its range of fitness bands.
The Pebble band itself is expected to be phased out.
The Information cites three sources reportedly familiar with the deal, who indicate Fitbit’s offer is believed to be for a “small amount.”
The news comes after several reports that Pebble has been searching for a buyer after the company laid off 25 percent of its staff earlier in the year.
At that time, CEO Eric Migicovsky commented that money was “pretty tight these days.”
No reputable timelines have been suggested when the deal will be announced or completed.