Google is acquiring Fitbit for $2.1 billion

The rumors are true. A week after word surfaced that Google planned to buy Fitbit, the companies have confirmed the purchase in a blog post authored by Google device SVP, Rick Osterloh. The match could ultimately prove beneficial for both parties. Google has struggled to make much of a dent in the wearables category, leading the software giant to purchase a large chunk of IP from watchmaker, Fossil for $40 million.

Learn more about your ad choices. Visit podcastchoices.com/adchoices