In brief: Google has actually been pursuing an acquisition of fitness tech business Fitbit for rather some time now, but the offer has actually been held up by a prolonged privacy-related investigation from the European Commission. However, the investigation has actually finally ended, and Google has been able to move on: it’s now the brand-new owner of Fitbit.
After months of conversations in between Google, Fitbit, and the EC, a deal has lastly been struck, and Google officially owns Fitbit. This news was revealed individually today by both Fitbit itself and its brand-new search giant overlord. Fitbit’s post largely focuses on the methods which being gotten by Google will cause a brighter future for the company and its users while minimizing the possible privacy dangers.
” On our own, we pushed the bounds of what was possible from the wrist, pioneering action, heart rate, sleep and tension tracking,” Fitbit CEO and co-founder James Park composes. “With access to Google’s extraordinary resources, knowledge and international platform, the possibilities are truly endless.”
Park goes on to say that user trust will “continue to be vital,” and their strong data personal privacy and security defenses will be maintained post-merger (partly due to the European Commission’s needs, we ‘d think of).
” Google will continue to protect Fitbit users’ privacy and has actually made a series of binding commitments with global regulators,” Park ensures clients. “… Fitbit users’ health and health information will not be used for Google advertisements and this information will be kept different from other Google ad data.”
It remains to be seen whether or not these lofty claims will hold true in the long term. The European Commission’s rules for this merger benefit the next decade, but as we all know by now, huge tech business are always searching for new and innovative ways to skirt guidelines.
The transaction in between Google and Fitbit was supposedly worth about $2.1 billion in total, which must result in a good payment for Fitbit’s stakeholders and creators.