Fitbit, Inc. Acquires Assets from Pebble
December 07 2016 - 08:15AM
Business Wire
Deal helps accelerate speed to market for
innovative new features and functionality for consumers, enable
customization and easier collaboration for healthcare ecosystem
Fitbit, Inc. (NYSE:FIT) the leader in the connected health and
fitness market, today announced that it has acquired specific
assets of Pebble, including key personnel and intellectual property
related to software and firmware development. The acquisition
excludes the company’s hardware products.
With this acquisition, Fitbit adds deep industry expertise in
platform development that complements the company’s core discipline
of innovative health and fitness features. The additional resources
will facilitate the faster delivery of new products, features and
functionality while introducing speed and efficiencies to develop
the general purpose utility consumers value in a connected device.
The acquisition will also accelerate the development of customized
solutions and third party applications for Fitbit Group Health
customers and partners, including researchers, employers and
providers.
“With basic wearables getting smarter and smartwatches adding
health and fitness capabilities, we see an opportunity to build on
our strengths and extend our leadership position in the wearables
category,” said James Park, CEO and co-founder of Fitbit. “With
this acquisition, we’re well positioned to accelerate the expansion
of our platform and ecosystem to make Fitbit a vital part of daily
life for a wider set of consumers, as well as build the tools
healthcare providers, insurers and employers need to more
meaningfully integrate wearable technology into preventative and
chronic care.”
As the wearables market leader, Fitbit has developed a large
global community of users by combining the power of technology with
insights, motivating millions of people reach their health and
fitness goals. Understanding that there is no one-size-fits-all in
health and fitness, Fitbit gives consumers choices with its
portfolio of wearable devices, features and accessories as part of
an overall connected health platform so that users can seamlessly
integrate wearables into their lives.
With Android usage accounting for nearly 90 percent of
smartphone OS market share globally1, the ability to deliver
consumers cross-platform devices is a key competitive advantage in
the wearables category. As an early entrant in the category, Pebble
was a trail blazer of the largest open, agnostic connected device
operating system, which complements Fitbit’s broad cross-platform
compatibility with more than 200 iOS, Android and Windows Phone
devices.
The Pebble transaction was completed on December 6.
About Fitbit, Inc. (NYSE: FIT)
Fitbit helps people lead healthier, more active lives by
empowering them with data, inspiration and guidance to reach their
goals. As the leader in the connected health and fitness
category, Fitbit designs products and experiences that
track everyday health and fitness. Fitbit’s diverse line of
award-winning products
includes Fitbit Surge®, Fitbit Blaze™, Fitbit
Charge 2™, Fitbit Charge HR™, Alta™, Fitbit
Charge™, Fitbit Flex 2™, Fitbit Flex®, Fitbit One® and
Fitbit Zip® activity trackers, as well as
the Aria® Wi-Fi Smart Scale. Fitbit products
are carried in 54,000 retail stores and in 65 countries around the
globe. Fitbit Group Health uses the power of
the Fitbit activity trackers, software, and services to
deliver innovative solutions for corporate wellness, weight
management, insurance and clinical research.
Fitbit, the Fitbit logo, Fitbit Surge, Fitbit Blaze,
Fitbit Charge 2, Fitbit Charge HR, Alta, Fitbit Charge, Fitbit Flex
2, Fitbit Flex, Fitbit One, Fitbit Zip, Aria, PurePulse, SmartTrack
and FitStar are trademarks, service marks and/or registered
trademarks of Fitbit in the United States and in
other countries. All other trademarks, service marks, and product
names used herein are the property of their respective owners.
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Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, that involve risks and uncertainties
including, among other things, statements regarding the asset
acquisition and its facilitation of the delivery of new products,
features and functionality, as well as of new solutions and
functionality for Fitbit Group Health customers and partners, and
its acceleration of the expansion of the Fitbit platform and
ecosystem. These forward-looking statements are only predictions
and may differ materially from actual results due to a variety of
factors, including the effects of the highly competitive market in
which we operate, including competition from much larger technology
companies; any inability to successfully develop and introduce new
products, features, and services or enhance existing products and
services; product liability issues, security breaches or other
defects; and other factors discussed under the heading “Risk
Factors” in our most recent report on Form 10-Q filed with
the Securities and Exchange Commission. All forward-looking
statements contained herein are based on information available to
us as of the date hereof and we do not assume any obligation to
update these statements as a result of new information or future
events.
1 IDC Smartphone OS Market Share, Q2 2016:
http://www.idc.com/prodserv/smartphone-os-market-share.jsp
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Fitbit, Inc.Jen Ralls, 415-941-0037PR@fitbit.com
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