Fitbit is planning to buy smartwatch maker Pebble in a $34 to $40 million deal, said a report from TechCrunch.
As noted in the report, Pebble has received better offers in the past, with watch maker Citizen offering to buy the firm for $740 million in 2015. Intel also offered to buy Pebble for $70 million. However, both offers were rejected by the smartwatch maker.
Neither companies confirmed the acquisition. Meanwhile, a Fitbit spokesperson told TechCruch that the company doesn’t comment on rumors or speculation.
(Photo Source: investor.fitbit.com/ Twitter – @Pebble)