FIT - Google Is Reportedly About to Clinch Its Fitbit Acquisition
It's now been nearly a year since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary announced its proposed acquisition of Fitbit (NYSE: FIT) in a $2.1 billion deal that values the wearables maker at $7.35 per share. During that time, concerns have mounted that Google might use Fitbit's sensitive health data for ad targeting, undermining user privacy and potentially undermining competition.
Regulators, particularly in the European Union where privacy protections are stronger, have been seeking various concessions and guarantees before approving the deal. Google might have just clinched the EU's blessings.
Fitbit Sense. Image source: Fitbit.
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Google Is Reportedly About to Clinch Its Fitbit Acquisition