Fitbit to reportedly buy smartwatch maker Pebble for ‘small amount,’ phase out product
By Mikey Campbell
Wednesday, November 30, 2016, 08:28 pm PT (11:28 pm ET)
Wearable fitness device giant Fitbit is reportedly on the verge of buying out, and subsequently shutting down, smartwatch upstart Pebble for what sources describe as a “small amount.”
Citing sources familiar with the matter, The Information reports Fitbit’s interest in Pebble stops at intellectual property like the company’s in-house smartwatch operating system. For this reason, Fitbit will discontinue the Pebble brand if and when the deal goes through, the report said.
News of the potential acquisition is perhaps unsurprising given Pebble’s current state of affairs. The smartwatch maker, once a favorite among early adopters, has in recent months been struggling to stay afloat.
Pebble made waves when its e-paper smartwatch project broke Kickstarter records in 2012. Following development, what is now known as the Pebble Classic debuted in 2013 and went on to see moderate success…
Read the entire article from AppleInsider here: Fitbit to reportedly buy smartwatch maker Pebble for ‘small amount,’ phase out product