Fitness wearables manufacturer Fibit looks to be in a serious mood of buying troubled smartwatch maker Pebble, according to The Information. Not only this, the source even says that a deal would officially allow Fitbit to take on Pebble’s technologies and intellectual property, such as its operating system.
Although the amount of buying Pebble is not yet disclosed, but speculations are that Fitbit is buying it for just $40 million. However, the truth is, this particular amount is barely enough to cover up Pebble’s debts amounting to at least $25 million.
And, if we go a little back, Pebble dismissed 25 percent of its workspace in March because of tight financial condition of the company. So, keeping the fact and current scenario in mind, Fitbit is eyeing to make the most out of this deal.