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The deal is pending regulatory approval.


Fitbit shares gained more than 40% since it was first reported that Alphabet made an offer for the fitness tracker.

Alphabet Inc. is a multinational conglomerate. It was created through a corporate restructuring of Google. It became the parent company of Google.


Fitbit is being acquired by Google's parent company for about $2.1 billion US. This deal allows the internet company to step back into the competitive market for smartwatches and health and fitness trackers.


Google did not have much presence in the wearables market. This deal could give more opportunity to compete with the Apple Watch.


Fitbit has 28 million active users worldwide and has sold more than 100 million devices.


https://www.igorbnews.com/2019/11/go...t-for-21b.html