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The alphabet is in talks to buy a Smart Watch Maker Fitbit



(Bloomberg) – Alphabet Inc. is negotiating the potential acquisition of smartwatch manufacturer Fitbit, a move that could boost its hardware business while boosting antitrust controls, according to someone familiar with the deal.

Reuters reported the talk earlier Monday, sending Fitbit shares up to 41%. Alphabet Chief Financial Officer Ruth Porat declined to comment on whether the two companies are under discussion.

The debate continues and this may not lead to a deal, said the person who asked not to be identified as the discussions are private. [19659004] Google is under investigation for anti-competitive conduct by both the US federal government and a collection of state attorneys for its online advertising and data collection practices, making any acquisition that the company is likely to be subject to strict scrutiny.

At the same time, however, the Internet giant is striving to grow its hardware business, which includes smart home speakers and devices, laptops and the Pixel line of smartphones. Fitbit can give Google a leg up in the smartwatch and health space.

To contact the reporter on this story: Gerrit De Vynck in New York at wherevynck@bloomberg.net

To contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net ,; Jillian Ward at jward56@bloomberg.net, Fion Lee

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