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Fitbit may buy smartwatch maker Pebble for its IP

PC World Thursday, 1 December 2016 ()
Fitness wristband maker Fitbit is said to be close to a deal to acquire smartwatch maker Pebble, mainly for its intellectual property.

Fitbit is aiming to acquire Pebble’s assets particularly the PebbleOS, which has a large number of apps running on it and can be paired with both Apple’s iOS and Android, The Financial Times said Wednesday, citing several people close to the negotiations.

It is not clear how much Fitibit will be paying for the company. Both Pebble and Fitbit did not respond to requests for comment on the rumored acquisition. The Information also reported on a likely acquisition.

Pebble, which gave the smartwatch market a fillip in 2012 with a campaign on the crowdfunding Kickstarter platform, has veered around to a greater focus on fitness and other devices like a cellular-connected clip called Core. Its Time 2 and Pebble 2 were unveiled this year, adding a heart-rate monitor to the watches.

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Source: The Street - < > Embed

News video: Stocks Mixed as Oil Gets Lift From OPEC; FitBit to Acquire Pebble

Stocks Mixed as Oil Gets Lift From OPEC; FitBit to Acquire Pebble 01:17

Stocks were mixed Thursday on the first trading session of December after the markets rallied throughout November. Oil prices continued to benefit from Wednesday's landmark OPEC deal with prices for West Texas Intermediate nearing $51 a barrel. OPEC agreed to reduce oil production by 1.2 million...

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