Fitbit Acquires Pebble for Undisclosed Sum

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=edb988b7-124a-4580-900f-79348bae7c96
Date
12/7/2016
Company Name
Pebble
Mailing Address
925 Alma St. Palo Alto, CA 94301 USA
Company Description
Pebble is a customizable, Bluetooth-enabled smartwatch that connects to iPhone and Android smartphones. It features a 144×168 1-bit display, a 3-axis accelerometer and a Cortex-M3 ARM microprocessor. Pebble can be customized by installing new apps developed with its Software Development Kit.
Website
http://www.getpebble.com
Transaction Type
M&A
Transaction Amount
Undisclosed
Transaction Round
Proceeds Purposes
M&A Terms
Fitbit is acquiring software assets and hiring engineering team members in the deal. No hardware assets are being acquired and the company will stop selling hardware. Financial terms of the deal were not disclosed.