Fitbit announced on Wednesday (December 7, 2016) that it has acquired assets from smartwatch maker Pebble, including key personnel and intellectual property related to software and firmware development. Pebble’s hardware products were not included in the deal.
“With this acquisition, we’re well positioned to accelerate the expansion of our platform and ecosystem to make Fitbit a vital part of daily life for a wider set of consumers, as well as build the tools healthcare providers, insurers, and employers need to more meaningfully integrate wearable technology into preventative and chronic care,” Fitbit CEO and co-founder James Park wrote in a news release.
Pebble also confirmed the deal in its own blog post while thanking the loyal supporters of the Pebble brand. The smartwatch maker also said that it will no longer promote, manufacture, or sell any devices.
According to Fitbit, the deal to acquire Pebble assets was completed on Tuesday, December 6.
(Photo Source: investor.fitbit.com/ Twitter – @Pebble)