Last week, Fitbit announced that it has entered into a definitive agreement to be acquired by Google LLC for $7.35 per share in cash, valuing the company at a fully diluted equity value of approximately $2.1 billion.
Late last week, Google announced its intention to purchase Fitbit, the beleaguered health tracker manufacturer. You’ll have to excuse my pessimism. I fully expect this to result in a total catastrophe for Fitbit’s employees, products, and customers. Just about everything Google has ever purchased has been discarded like garbage or has been completely devalued as a result of the company’s inability to successfully integrate acquired businesses into its culture.
Arguably, the first 10 years of Google’s existence resulted in mergers that were beneficial and necessary for building the company’s core services products, such as YouTube, AdSense/AdWords, Maps/Earth. However, its track record with acquisitions over the past 10 years has been awful — especially if we consider significant capital acquisitions of $500 million or more…
It all sounds extraordinarily messy, and, ultimately, the consumers that invested in WearOS devices will get the short end of the stick if Fitbit OS wins the internal battle at Google. But it sounds like Fitbit is shaping up to be more of an expensive acqui-hire than it is an actual technology acquisition. So, Fitbit OS is probably doomed — at least as an overall platform.
MacDailyNews Take: Fitbit was doomed before Google swallowed them. It’s just extra-doomed now.
Apple Watch roadkill.
Fitbit could not compete with Apple Watch and Apple’s myriad Health projects then and they won’t be able to compete now.
Health information is very private data. Google does privacy very poorly and, now, by association, so does Fitbit. — MacDailyNews, November 1, 2019