Smartwatches can currently be seen as an evolving piece of technology that is yet to be perfected. There are multiple companies that are trying to grab a bigger share of the market like Garmin, Fitbit, Apple and others with their respective offerings. However, it seems like Google’s parent company Alphabet might be planning on getting a leg up against the competition. As per a Reuters report, Google owner Alphabet has made an offer to buy Fitbit, which is a US-based wearable manufacturer.
Alphabet bids for Fitbit
Citing people who are familiar with the matter, the Reuters report says that it is not confirmed whether the negotiations between Google and Fitbit might turn into a deal for sure. While it is not known how much has Google offered Fitbit for acquisition, the latter’s shares jumped about 27 percent soon after the Reuters report was published, with its market cap at $1.4 billion.