Alphabet is buying Fitbit

Business

(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.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss