Fitbit pioneered the wearables category and has sold more than 100 million devices, and has more than 28 million active users.
Fitbit is trying to persuade investors that it can hang on to users and sell them future devices if it gets them onto its tracking platform, which can store and share health and activity data.
Google has officially announced that it is acquiring Fitbit for USD 7.35 per share in cash as part of a deal priced at approximately USD 2.1 billion.
Fitbit pioneered the wearables category and has sold more than 100 million devices, and has more than 28 million active users around the globe, the official release notes.
Google's acquisition is seen as the company's push into the health domain. The acquisition is expected to close in 2020 and Fitbit will continue to remain platform-agnostic across both Android and iOS.
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