Google owner Alphabet in bid to buy Fitbit

Google's next wearable move could be acquiring Fitbit

Fitbit has reportedly received a buyout offer from Google's parent company Alphabet. The exact price that Google has offered for Fitbit could not be learned, Reuters reported.

The news shouldn't come as much of a surprise. The news has seen Fitbit's stock shoot up 30 percent as of writing, experiencing the most excitement the company has seen from investors in quite a while.

According to sources interviewed by Reuters and CNBC, Google is interested in using the acquisition to make headway in the fitness tracking market where it would compete with other big tech companies like Apple. In fact, it has been number one for fitness trackers for many years, until Xiaomi beat it with the Mi Band.

Meanwhile, Google has been quietly beefing up its smartwatch cred. Before this month's Made by Google event, there wereplenty ofrumorsswirling around that Google would finally make good on the long-awaited Pixel Watch.

At this point, however, Google trails far behind competitors like Apple and Samsung when it comes to smartwatch software. It has a wearable OS in Wear OS, which hasn't really done well.

There's lots of patents to Fitbit's name too. Also, as of the end of 2018, the company had27.6 million active users. Moreover, the watch also tracks floors climbed, sleep duration and quality, and heart rates.

Google and Fitbit did not immediately respond to a request for comment.

And if Fitbit weren't going to be making a Pixel Watch, one might wonder why Google is buying (or bought) Fitbit. We'll update with more information should we hear anything.

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