Google agreed to buy Fitbit Inc. for $2.1 billion in cash. This comes as they have increasingly talked about building their hardware business which includes smartphones, laptops, smart speakers and nest. They will pay $7.35/share – that represents a 71% premium to Fitbit’s stock price before Reuters first reported Google had made a bid for the company on Oct. 28.
Sarah Kanwal
Equity Analyst, Director
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