Google parent Alphabet (NSDQ:GOOG) reportedly made an offer to acquire Fitbit (NYSE:FIT) in an attempt to work its way into the smartwatch and fitness tracker market.
There is not any certainty of a deal as of yet and no financial terms were shared, according to a report from Reuters, which cited “people familiar with the matter.” Google and Fitbit did not respond to the wire service’s requests for comment.
Despite partnerships with numerous technology companies, a potential partnership with Fitbit would be Google’s first foray into wearable technologies such as smartwatches and fitness trackers.
Shares of FIT rose 30.9% at $5.64 per share at market close yesterday while GOOG shares were up 2% at $1,290 each.
Original Article: (https://www.massdevice.com/report-google-parent-alphabet-eyes-fitbit/)