Google has completed its $2.1 billion acquisition of Fitbit, the company announced. The announcement comes as the company secured the approval of regulators, who have imposed a number of conditions on the deal.
Google has completed its $2.1 billion acquisition of Fitbit, the company announced today. The news follows the EU’s announcement late last year that it had approved the deal, after Google made a series of commitments about its planned operation of Fitbit and use of the its health data. In its announcement, Google’s hardware chief Rick Osterloh said the acquisition was “about devices, not data.
In December, the ACCC rejected Google’s proposed conditions for the deal over data concerns as well as fears that it could force Fitbit’s rivals out of the wearables market because of their reliance on Google’s Android. Although ACCC Chair Rod Sims acknowledged the concessions Google had offered, he expressed concerns that they could not be “effectively monitored and enforced in Australia.
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