In 2019, Google announced that it would buy Fitbit, known for its activity bracelets, for $ 2.1 billion. The European Union gave the acquisition the green light in December 2020, and now the deal has finally been officially completed – Google owns Fitbit.
The transaction has taken more than a year to complete, as decision-makers have been concerned about the potential access to activity, health, sleep and location data for millions of users as a result of the Fitbit acquisition. Data like that described for Google’s advertising business would probably be worth its weight in gold.
As well as the CEO of Fitbit James Park that Google boss Rick Osterloch emphasized in the context of the confirmation of the transaction that the acquisition was primarily about equipment and not data.
“It’s always been about the devices, not the data. We have said very clearly from the beginning that we intend to protect the privacy of Fitbit users, ”Osterloch emphasized in his statement.
Fitbit boss Park has promised that Fitbit devices will continue to work with both iPhone and Android handsets. Compatibility with third party services is also promised.
An integral part of the acquisition is the condition that Google may not use Fitbit data to target its advertising for ten years. The European Commission has the opportunity to continue investing for another ten years.
Source: Tivi by www.tivi.fi.
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