November 1, 2019 / 1:10 PM / 11 days ago

Alphabet's Google to buy Fitbit for $2.1 bln

Nov 1 (Reuters) - Alphabet Inc’s Google will buy wearable device maker Fitbit Inc for $2.1 billion, as the search giant looks to enter the fast-growing market for fitness trackers and smartwatches.

Fitbit said on Friday it had been offered $7.35 per share in cash, a premium of about 19% to the stock’s closing price on Thursday.

Fitbit shares have gained more than 40% since Reuters exclusively reported on Monday that Google had made an offer for the maker of the popular colourful fitness trackers.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva

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