Alphabet is buying Fitbit


(FOX NEWS) — Google’s parent company Alphabet is buying Fitbit for 2.1 billion dollars.

The deal will put the tech giant on par with Apple in the wearable technology space.

Upon rumors of a potential buyout Monday, Fitbit’s stocks soared almost 30 percent then stocks surged another 17 percent at the opening bell Friday.

Alphabet says it will pay $7.35 per share for the company.

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

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