Fitbit buys Pebble’s software assets

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Smartwatch producer Pebble has affirmed that it’s closing down with numerous individuals from Team Pebble “joining the Fitbit family to proceed with their work on wearable programming stages.”

“Due to various factors, Pebble is no longer able to operate as an independent entity,” explained Eric Migicovsky, CEO and founder at Pebble, in a statement. “We have made the tough decision to shut down the company and no longer manufacture Pebble devices. The arrangements were finalized for Fitbit to acquire our technology, software, and other intellectual property (IP),”

Pebble started its crowdfunded extend in 2012 and raised more than $10 million in a Kickstarter campaign. It was one of the principal organizations to make smartwatches that utilized electronic ink shows associated with cell phones.

It was not long ago that rumours began coming that Fitbit was set to acquire Pebble in an arrangement answered to be worth up to $40 million. Presently Fitbit has at long last disclosed points of interest of the procurement, which includes gobbling up “particular resources,” including staff and protected innovation (IP) identified with programming and firmware.

James Park, CEO and co-founder of Fitbit, said “With basic wearables getting smarter and smartwatches adding health and fitness capabilities, we see an opportunity to build on our strengths and extend our leadership position in the wearables category,”

He also added that with this obtaining, they are all ready to quicken the development of their Platform and whole ecosystem in order to make Fitbit an imperative piece of every day life for a more extensive number of buyers, and in addition also assembling the instruments for healthcare facilitators,back up plans, and managers need to all the more genuinely incorporate wearable innovation into safeguard and chronic care.

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