Alphabet, parent company of Google, is reportedly in talks to acquire wearables company Fitbit and has already made an offer, Reuters reported Monday.
No acquisition price was disclosed and it is unclear if a deal will be finalized. Fitbit has been one maker of wearables that has become deeply integrated into the healthcare space, with partnerships from major players such as Humana.
Shares of Fitbit soared after the news was released. Alphabet’s play into the wearables market could be seen as a competitive edge toward Apple, which has its own wearable watches increasingly being used for medical purposes.
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