Alphabet’s offer to acquire Fitbit
(M&A) In an attempt to enter the highly competitive health and fitness tracking businesses, Google’s holding company Alphabet has made an offer to acquire Fitbit. Although the target price has not been published, Fitbit’s stock soared about 30% upon the news, valuing the San Francisco-based fitness tracking company at about $1.4 billion.
About Fitbit :
Fitbit is a passionate team dedicated to health and fitness who is building products that help transform people’s lives. While health can be serious business, Fitbit feels it doesn’t have to be. Fitbit believes you’re more likely to reach your goals if you’re encouraged to have fun, smile, and feel empowered along the way.