In November 2019, Fitbit Inc announced about its acquisition by Google LLC for $7.35 per share in cash, valuing the company at a fully diluted equity value of approximately $2.1 billion, as per the news released by Fitbit. But now this acquisition deal is in question, on the grounds of privacy and competition. A group of 20 consumer groups and privacy advocates are opposing the deal and calling to block the deal as the acquisition of Fitbit will give Google access to Fitbit users intimate information like how many steps they take in a day, quality of sleep and heart rates. The deal, if gets a green signal from concerned regulators, will help Google in expanding its wearable business and compete with Apple’s smart watch. Decision by EU regulators on allowing the deal or to initiate an investigation is yet to come. As per Google the deal is more about device and not data.
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