Google has reportedly made an offer to acquire fitness device maker Fitbit, which has resulted in its shares being suspended until an official announcement is made.

According to Reuters, which cited unnamed sources, who asked not to be identified because the matter is confidential, Google is eyeing a move into the crowded market for fitness trackers and smartwatches.

It comes after Google recently launched its new flagship smartphones, namely the the Pixel 4 and Pixel 4 XL, which features a Soli radar chip to enable more secure, faster facial recognition, as well as gesture controls.

Fitbit bid?

But while Google has smartphones to challenge the likes of Samsung and Apple, it does not have a wearable presence.

Reuters reported that there is no certainty that the negotiations between Google and Fitbit will lead to any deal. It could not discover what price Google has reportedly offered for Fitbit.

Both Google and Fitbit declined to comment on the Reuters report.

However shares in Fitbit rose 27 percent on the news (before they were suspended), giving the company a market capitalisation of $1.4 billion.

Google acquiring Fitbit would provide the Alphabet unit an instant and sizeable presence in the fitness tracking sector, despite growing competition from devices from the likes of Huawei Technologies and Xiaomi.

Fitbit has made its name in making watches and trackers and monitor people’s daily steps, calories burned and distance travelled. Some devices also measure sleep duration and quality and heart rate.

Wearable move?

Google has a mixed reputation when it comes to the wearable market, and has not been afraid of shutting down projects it no longer feels have a future.

Earlier this month for example Google called time on its Daydream virtual reality (VR) platform, after executives confirmed that the new Pixel 4 and Pixel 4 XL does not support the VR platform.

But perhaps Google’s most noteworthy wearable move was its Google Glass project, which despite being well received by many organisations, was cancelled in 2015 (although that project limped on for a year or so under the guise of “Project Aura”).

Quiz: What do you know about Google?

Tom Jowitt

Tom Jowitt is a leading British tech freelancer and long standing contributor to Silicon UK. He is also a bit of a Lord of the Rings nut...

Recent Posts

UK’s CMA Readies Cloud Sector “Behavioural” Remedies – Report

Targetting AWS, Microsoft? British competition regulator soon to announce “behavioural” remedies for cloud sector

9 hours ago

Former Policy Boss At X Nick Pickles, Joins Sam Altman Venture

Move to Elon Musk rival. Former senior executive at X joins Sam Altman's venture formerly…

11 hours ago

Bitcoin Rises Above $96,000 Amid Trump Optimism

Bitcoin price rises towards $100,000, amid investor optimism of friendlier US regulatory landscape under Donald…

12 hours ago

FTX Co-Founder Gary Wang Spared Prison

Judge Kaplan praises former FTX CTO Gary Wang for his co-operation against Sam Bankman-Fried during…

13 hours ago