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Report: Google Looking To Acquire Fitbit

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Report: Google Looking To Acquire Fitbit

Alphabet Inc's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google has made an offer to acquire Fitbit Inc (NYSE: FIT), according to Reuters.

Fitbit supplies fitness trackers and smartwatches. Reuters said there is no certainty the negotiations between Alphabet and Fitbit will lead to a deal, and the exact price Google has offered for Fitbit was undisclosed.

Fitbit's stock spiked higher by 28% to $5.58 per share following the report. Alphabet is scheduled to reported third-quarter earnings after Monday's closing bell.

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Photo courtesy of Fitbit.

Posted-In: ReutersM&A News Rumors Tech Media Best of Benzinga

 

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