Fitbit has acquired specific assets of Pebble, including key personnel and intellectual property related to software and firmware development.
According to the company, the additional resources from the acquisition will facilitate faster delivery of new products, features and functionality while introducing speed and efficiencies in utility and development. The acquisition will also accelerate the development of customized solutions and third party applications for Fitbit health customers and partners, including researchers, employers and providers.
“With basic wearables getting smarter and smartwatches adding health and fitness capabilities, we see an opportunity to build on our strengths and extend our leadership position in the wearables category,” said James Park, CEO and co-founder of Fitbit. “With this acquisition, we’re well positioned to accelerate the expansion of our platform and ecosystem to make Fitbit a vital part of daily life for a wider set of consumers, as well as build the tools health care providers, insurers and employers need to more meaningfully integrate wearable technology into preventative and chronic care.”
The Pebble transaction excludes the company’s hardware products.