Oct 28, 2019 - Technology

Google parent company reportedly in talks to acquire Fitbit

 The Fitbit Versa smart watch.

The Fitbit Versa smart watch. Photo: Smith Collection/Gado/Getty Images

Google's parent company Alphabet Inc. has made an offer to buy wearable device maker Fitbit Inc., according to Reuters.

Why it matters: Google has yet to develop any wearable smart devices like its competitors Apple and Samsung Electronics, but it could get a piece of the crowded market with Fitbit.

Yes, but: "There is no certainty that the negotiations between Google and Fitbit will lead to any deal," per Reuters.

  • The exact price that Google has offered for Fitbit is unknown.

The big picture: Fitbit has reportedly been exploring the possibility of a sale since September as it struggles to maintain a strong presence in the fitness tracker market.

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