FitBit Buys Pebble's Intellectual Property
FitBit today said it has acquired key personnel and intellectual property related to software and firmware development from Pebble. FitBit did not buy Pebble's hardware assets. FitBit says the acquisition will allow it to bring products to market faster and will speed up its ability to develop customized solutions and support third-party applications. Pebble was an early entrant in the smartwatch market and made low-cost, platform-agnostic wearables that focused on usability. It got its start through several successful Kickstarter campaigns. FitBit is the market leader for health and fitness wearables. It has an entire line of trackers and smart devices that work with Android and iOS devices. FitBit did not immediately say what will happen to Pebble's hardware products, but Pebble's Twitter account said, "Pebble will no longer produce or sell new hardware. Active Pebbles in the wild will keep working." Terms of the deal were not disclosed. The transaction was completed December 6.
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