Google Acquires Fitbit For 2.1 Billion Promises Health And Wellness Data Won T Be Used For Ads
The news caused Fitbit’s stock to spike 17 percent today and comes after rumors of the purchase circulated earlier this week, as first reported by Reuters. Google’s parent company Alphabet’s stock rose by roughly 0.8 percent, CNBC reported. Google will pay $7.35 per share in cash as part of the deal. Bringing one of the leading health tracking firms into the fold will help Google to better compete in the wearables market dominated by Apple and Xiaomi....