The EU Commission Approves Google's Acquisition of Fitbit though Subject to Strict Conditions
In November 2019 Patently Apple posted a report titled "Google's Parent Company Announces Acquisition of Fitbit." The acquisition was announced after the company had a big Q3 2019 earnings miss. The $2.1 billion price tag bought Google a dedicated team to advance their Pixel Watch plans which have been rumored for years. With Fitbit and Alphabet's finances, they may be able to put together a product line that might be able to challenge Apple Watch down the road.
Today, Google finally won European Union approval for its US$2.1 billion takeover of health tracker Fitbit Inc., days after regulators proposed tougher rules to curb powerful technology firms’ push into new services.