Fitbit, the leader in the wearables category, is close to an agreement to buy struggling smartwatch maker Pebble for up to $40 million, in a move to gain the firm’s intellectual property and software. The negotiations follow several months of financial turmoil at Pebble, which reportedly slashed its workforce by 25 percent in March and has rebuffed several prior offers to be acquired. It’s rumored that Pebble CEO Eric Migicovsky turned down Citizen’s $740 million acquisition offer, as well as a $70 million bid from Intel.
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Fitbit May Pick Up Pebble
Posted by: David Jones December 5, 2016 02:44 PMFitbit, the leader in the wearables category, is close to an agreement to buy struggling smartwatch maker Pebble for up to $40 million, in a move to gain the firm’s intellectual property and software. The negotiations follow several months of financial turmoil at Pebble, which reportedly slashed its workforce by 25 percent in March and has rebuffed several prior offers to be acquired. It’s rumored that Pebble CEO Eric Migicovsky turned down Citizen’s $740 million acquisition offer, as well as a $70 million bid from Intel.