FITNESS TRACKER MAKER Fitbit is reportedly planning to buy Pebble in a deal worth $40m, according to reports.
Pebble has apparently been gearing up to flog itself for a while now, after earlier this year having laid off 25 per cent of its workforce because money was "pretty tight".
According to a report at The Information, Fitbit is gearing up to buy the struggling smartwatch maker, and Engadget has heard that it'll be paying $34m to $40m (£27 to £31.7m) for the privilege - barely enough to cover Pebble's debts which amount to "at least" $25m.
The acquisition, likely to be announced any day now, will reportedly signal curtains for Pebble, with reports claiming that Fitbit will phase out the indie smartwatch brand, in order to scoop up the company's technologies and intellectual properties, including Pebble's homegrown operating system.
Naturally, neither Fitbit nor Pebble have commented on the reports.
Fitbit isn't the only company to have shown interest in Pebble, though, according to Engadget. It has heard that watchmaker Citizen offered to scoop up Pebble for $740m back in 2015.
Intel also reportedly offered to buy the company for $70m. The bid came after the Pebble Time Round's poor performance, Engadget notes, with the chipmaker saying it'd take the company under its wing it would agree to hold off on launching the Pebble 2 and Pebble Time 2 Kickstarter campaign. As we all now know, that didn't happen. µ
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