Google concludes its $2.1B FitBit acquisition

Thursday, 14. January 2021 15:24

Google confirmed on Thursday it has completed the acquisition of sport electronic company FitBit after getting approval from the European Commission last month.

In the announcement, Senior Vice President of Google’s Devices and Services, Rick Osterloh, stated that this deal has "always been about devices, not data, and we’ve been clear since the beginning that we will protect Fitbit users’ privacy. We worked with global regulators on an approach which safeguards consumers' privacy expectations, including a series of binding commitments that confirm Fitbit users’ health and wellness data won't be used for Google ads and this data will be separated from other Google ads data."

Back in 2019, Google announced it reached a definitive agreement with Fitbit for $2.1 billion in cash or $7.35 per share. However, after this announcement, the company was investigated by the European Data Protection Board (EDPB) on concerns that this acquisition may create privacy risks.

Related Links: FITBIT Inc.Alphabet Inc.
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Breaking the News / TF