Fitbit is reportedly close to buying Pebble

See the original posting on The Verge

Fitness wearables manufacturer Fitbit is close to buying smartwatch maker Pebble, according to The Information. The publication’s sources say that a deal would see Fitbit taking Pebble’s intellectual property, such as its operating system, but would see the Pebble brand phased out. It’s not clear yet when the deal will be completed, or when it will be announced.

The Information cites three people reportedly familiar with the deal, who say that Fitbit’s offer is believed to be for a “small amount,” and comes after Pebble has been searching for a buyer for some time. The company laid off 25 percent of its staff earlier this year, and CEO Eric Migicovsky said at the time that money was “pretty tight these days,” despite funding rounds in…

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