Fitbit has confirmed the successful acquisition of Kickstarter darling, Pebble Inc. The catch is that Fitbit didn’t buy the entire company, but just the divisions that were necessary for their long-term plans to diversify into the Smartwatch segment.
This is great news for Fitbit Fans as an indication the Fitness Tracker giant heeding customer feedback that has indicated a desire for diversification into the Smartwatch wearable industry. The Pebble software and intellectual property will certainly jumpstart the innovation that Fitbit has been craving and Wall Street demanding.
As we reported last month, Wall Street punished Fitbit with a 33% drop in the stock price from $12.91 that many analysts attributed to Fitbit’s lack of innovation. The stock has been hovering around the $8.00 to $8.70 ever since. It will be interesting to see how the market reacts over the next month as holiday sales numbers roll in which are expected to be as strong as last year.
Read: FITBIT: FITNESS TRACKER GIANT TAKES A STEP OFF A CLIFF THIS WEEK
Fitbit has acquired key personnel and the sought after intellectual property they wanted for both software and firmware development. What this means to Pebble Smartwatch Owners is the acquisition excluded the hardware products (basically your Pebble Smartwatch).
This means that Pebble is no longer promoting, selling, or manufacturing any more smartwatches or accessories related to the Pebble 2, Pebble Time Round, Pebble Time Steel,, Pebble Time, Pebble Steel, or Pebble Classic.
If you are a current Pebble Smartwatch owner, it is recommended that you update the latest firmware from the mobile app available through Google Play or iTunes App Store.
Pebble recommends using the Pebble app: Menu » Support » Update Your Pebble.