Who owns the wearables industry? Apple Watch. Who wants in? Everybody else? Who has enough money to buy a ticket to the dance? Google (Alphabet).
Ben Schoon explains what happened:
Alphabet has entered a “definitive agreement” to acquire Fitbit as it looks to bolster its wearables offering.
Over the years, Google has made progress with partners in this space with Wear OS and Google Fit, but we see an opportunity to invest even more in Wear OS as well as introduce Made by Google wearable devices into the market. Fitbit has been a true pioneer in the industry and has created engaging products, experiences and a vibrant community of users. By working closely with Fitbit’s team of experts, and bringing together the best AI, software and hardware, we can help spur innovation in wearables and build products to benefit even more people around the world.
What happens when the blind lead the blind?
Fitbit’s co-founder and CEO James Park:
With Google’s resources and global platform, Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could not be more excited for what lies ahead.
Translation: “Whew. I’m glad that’s over. The toilet was coming up fast.”