It’s no news that the Smartwatch industry is dying as fast as it came into existence, and we can see many Smartwatch makers including big names like Apple and Samsung struggling to make headways in sales by slashing the prices of their priced gadgets. We really don’t know what Fitbit has planned for the multimillion dollar Pebble, but whatever it is, we are sure it’s a pretty risky move to make at this time.
It looks like consolidation is coming to the wearable space with Fitbit set to acquire Smartwatch maker and multi-million-dollar Kickstarter-darling Pebble. We haven’t gotten a final word on the amount at which Pebble is being acquired, but from a Fitbit spokesperson, we got hints that Pebble is being bought at a “small amount.”
Another thing that caught our attention was the fact that Pebble and its products will be closing down over time, and Fitbit is expected to acquire its assets, which includes the software.
It was rumored that fellow watchmaker Citizen also showed interest in purchasing Pebble for $740 million in 2015 but the deal failed, and the company returned with a $70 million offer after the launch of the Pebble 2 Intel. Well, two cool offers getting rejected with hopes that they will revive the failing company now means that the company may have to go for a mere $40 million.