Fitbit Rumored to Acquire Pebble for Around $40 Million

[PhilSynowiec]

According to The Information, Fitbit is set to acquire smartwatch-maker Pebble. Rumor has it, the deal is mainly to acquire the Kickstarter legend's intellectual property and software, possibly for use in future Fitbit devices.

In another report, TechCrunch says a source is telling them the deal could peg around $34 to $40 million. Too bad, since rumors claimed Pebble has received offers close to $740 million in the past, when the wearable craze was just beginning.

Since its huge debut in 2012, Pebble was the go to smartwatch on the market, that is until the Apple Watch and Android Wear came around. While Pebble tried, the company couldn't keep up with big competitors and consumer interest in wearables.