As the fitness band and smartwatch industries take bites out of one another, Fitbit has been scooping out potential rivals left and right.
Based on reports out of The Financial Times and VentureBeat, the company’s efforts to consolidate its dominance of the fitness band market even extended to its most-bitter rivals.
Fitbit, who recently acquired smartwatch startups Pebble and Vector for their software assets, reportedly made an offer to Jawbone following the latest development in the patent dispute case between the two companies.
However, talks between the two companies are said to have collapsed after Fitbit suggested a price that “was a tiny fraction of Jawbone’s $1.5 billion valuation.
As a result, Jawbone has been left in the lurch. VentureBeat says the company is now “scrambling to raise funds to continue operating.”
Jawbone’s biggest investment backer, Blackrock, has previously expressed a open desire to sell off the company amid flagging demand for wearable tech.
Jawbone and Fitbit’s first legal battle (over patent infringement) was dropped by Fitbit in December but the second (alleging theft of trade secrets) is still set for trial later this year in a California courtroom.
ChannelNews have reached out to Jawbone for comment.
