Fitbit acquires assets from Pebble

The additional resources will facilitate the faster delivery of new products, features and functionality, Fitbit states in a press release. The company also expects the acquisition to accelerate the development of customised solutions and third party applications for Fitbit Group 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, in the press release. “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 healthcare providers, insurers and employers need to more meaningfully integrate wearable technology into preventative and chronic care,” Park concluded. With this announcement Pebble is ceasing all hardware operations; meaning that the company will stop promoting, manufacturing, and selling devices.