Google Buys Fitbit For $2.1B, Enters Crowded Wearables Field

SAN FRANCISCO (AP) — Fitbit is being acquired by Google’s parent company for about $2.1 billion, wading into the crowded and competitive field of wearables and fitness technology.
Fitbit is a pioneer in wearable technology, but it’s been shredded by that competition. The company’s market capitalization soared to just under $10 billion after becoming a public company in 2015. Its value this week is well below $2 billion.
When rumors of a potential buyout by Google surfaced