Technology Google owner Alphabet wants to buy Fitbit, report says
Fitbit stock surges on report that Google-parent Alphabet may buy company
Fitbit stock has jumped nearly 28% following a Reuters report that Google is preparing to buy the company.According to the report from Reuters, Alphabet has "made an offer" to buy Fitbit, though the report did not disclose terms. After briefly being halted, shares of Fitbit resumed trading late Monday morning, with the company rising nearly 28% to $5.51 early Monday afternoon.
Google’s parent company Alphabet Inc. has reportedly made a formal offer to buy Fitbit, sources told.
But, the existence of an offer doesn’t suggest an acquisition is imminent: “There is no certainty that the negotiations between Google and Fitbit will lead to any deal,” according to the Reuters report.
Given how long we’ve waited for Google to release its own heavily-rumored, it’s not a surprise that the company is also interested in the fitness hardware market. After years developing WearOS, it’s no stranger to wearables software, either – though given Fitbit’s reliance on its own proprietary OS, it would be up to speculation whether a Google-owned Fitbit would switch over.
Alphabet is reportedly interested in buying Fitbit
Fitbit is apparently quite serious about exploring a sale. Reuterssources said Alphabet has "made an offer" to buy Fitbit for an as yet undetermined amount. The insiders warned there was no guarantee the talks would lead to a deal, but the indication of interest is still huge by itself. We've reached out to Alphabet and Fitbit for comment, although they declined to comment to Reuters. If Alphabet did snap up Fitbit, it could dramatically change the landscape for smartwatches. In spite of challenges, Fitbit is still one of the largest smartwatch makers on the planet -- this would quickly consolidate the market.
The acquisition would also follow the tech giant’s experience with phones after it contracted HTC to help build its Pixel line of phones – and then in early 2018,to transition everything in-house. Google isn’t afraid to spend serious money to buy the right hardware expertise.
This is the first we’re hearing of a deal, and there’s no indication how far it’s progressed or how likely it will be to go through, but we’ll follow up on the story when more news emerges.
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Google to rescue Puerto Rico: the giant will send helium balloons to reconnect the devastated island
Finally a positive news for Puerto Ricans: Google will help them reconnect. The Caribbean island was devastated by Hurricane Maria in September and most of its inhabitants are still without electricity. The parent company of the American giant, Alphabet, will therefore send in the coming days helium balloons that will allow them to connect to the internet.
The island paradise of Puerto Rico is almost totally devastated. It suffered the brunt of the passage of two hurricanes, Irma and Maria, in September. Maria was even the most devastating disaster the island has ever known. The human toll is heavy: 34 dead. Many survivors find themselves without homes and 83% of the population is still without electricity. Gusts at 260 km / h and heavy rains destroyed all electrical installations.
So, Google wants to give a boost to Puerto Ricans. And how? By sending helium balloons into the Caribbean sky, to restore the mobile phone network. It's already taken. Alphabet, the name of its parent company, has also announced that it has obtainedfrom the US telecom regulator (FCC).
High Speed Internet Terminals These balloons were originally created in 2013 to improve the internet coverage of underserved areas, as part of thedeveloped by Lab X Alphabet. They will therefore be used in the coming days to partially restore the cellular network of Puerto Rico.
Concretely, balloons function as high-speed internet terminals and are equipped with navigation systems powered by solar panels. This allows them to travel in the stratosphere (about 20 km from the surface of the Earth), while staying above a specific area. A city, for example.
The balloons are made of polyethylene and measure approximately the size of a tennis court. But beware, they are very resistant: in the past, a balloon remained 190 days in the stratosphere. A record.
FCC President Ajit Pai is now inviting all other parties to join the project. "I urge mobile operators to cooperate with [Loon] to maximize the chances of success of this initiative,"
Google parent Alphabet agrees to buy Fitbit in $2.1 billion deal .
It's part of the "next evolution of Wear OS."Fitbit is behind fitness trackers like the Versa 2 smartwatch and the Charge 3 band, which are compatible with both Apple'siOS and Google's Android operating systems (the Apple Watch is iOS-only).
Google is reportedly trying to buy Fitbit
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