Fitbit considers whether it should explore a sale

Minimalist · Sep 23, 2019

Wearable device maker Fitbit has been in talks with an investment bank about the possibility of exploring a sale amid challenges in successfully pivoting from fitness trackers to smartwatches, people familiar with the matter said on Friday.
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https://www.itnews.com.au/news/fitbit-considers-whether-it-should-explore-a-sale-531331

guest · Oct 28, 2019

Exclusive: Google owner Alphabet in bid to buy Fitbit - sources
October 28, 2019
https://www.reuters.com/article/us-...et-in-bid-to-buy-fitbit-sources-idUSKBN1X71NY

Google owner Alphabet Inc (GOOGL.O) has made an offer to acquire U.S. wearable device maker Fitbit Inc (FIT.N), as it eyes a slice of the crowded market for fitness trackers and smartwatches, people familiar with the matter said on Monday.

There is no certainty that the negotiations between Google and Fitbit will lead to any deal, the sources said, asking not to be identified because the matter is confidential. The exact price that Google has offered for Fitbit could not be learned.
Google and Fitbit declined to comment.
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hawki · Nov 1, 2019

"Google will acquire Fitbit in $2.1 billion deal and direct challenge to Apple

FitBit on Friday announced it would be acquired by Google in a deal that values the smartwatch maker at roughly $2.1 billion.

The deal puts Alphabet in a race against Apple when it comes to tracking fitness and health data..."

https://www.washingtonpost.com/tech...e-fitbit-billion-deal-direct-challenge-apple/

ronjor · Nov 1, 2019

Google's $2.1 billion bet on Fitbit: What will it do with the corporate wellness business?

By Larry Dignan for Between the Lines | November 1, 2019
Google made it sound like the Fitbit purchase was all about a wearables business that the market valued just a smidge above worthless. Now, with Fitbit's data archive and a corporate wellness business estimated to have more than $100 million in annual revenue, Google Cloud could make a healthcare play.
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guest · Nov 2, 2019

Fitbit Says Google Will Not Use Its Health Data For Ads
November 2, 2019
https://inc42.com/buzz/fitbit-says-google-will-not-use-its-health-data-for-ads/

Google’s acquisition of Fitbit on Monday (November 1) immediately raised concerns about data privacy for fitness band users. Reacting to the apprehension, the wearables maker confirmed that the health data of its users will not be used by Google for serving ads.

“Consumer trust is paramount to Fitbit. Strong privacy and security guidelines have been part of Fitbit’s DNA since day one, and this will not change. Fitbit will continue to put users in control of their data and will remain transparent about the data it collects and why. The company never sells personal information, and Fitbit health and wellness data will not be used for Google ads,” Fitbit said in its release, according to media reports.
Google also said that it works hard to protect users’ information and would give transparency about data. “Similar to our other products, with wearables, we will be transparent about the data we collect and why,” he wrote.
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ronjor · Nov 2, 2019

Why Google’s Fitbit deal could break its legacy of hardware failures

Published 2 hours agoJennifer Elias@jenn_elias 02 Nov 2019
Google has historically flailed in its hardware acquisitions and product roadmaps, from HTC to Motorola to Nest.
However, Fitbit could help Google vault into the $3.5 trillion health-care space.
It’s all about the data.
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ronjor · Nov 4, 2019

By Mark Sullivan 11.04.19

Tech-savvy Senator Mark Warner, a Virginia Democrat, came out swinging against Google parent Alphabet’s plan to acquire the health wearables and data company Fitbit. Alphabet may want Fitbit’s technology to extend into the health wearables space.
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ronjor · Nov 4, 2019

How to delete your Fitbit data before Google takes charge

By Barbara Krasnoff Nov 4, 2019
You can remove your info, but it may take up to 90 days
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JRViejo · Nov 6, 2019

Will the Fitbit purchase echo Google's previous failed attempts to integrate large acquisitions into their culture?
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Fitbit is doomed: Here's why everything Google buys turns to garbage by Jason Perlow.

guest · Nov 17, 2019

Here’s Why The Google Fitbit Deal Matters–And What You Should Do
November 17, 2019
https://www.forbes.com/sites/kateof...le-fitbit-deal-mattersand-what-you-should-do/

On November 17, CNBC reported that some Fitbit users had started looking for an alternative as soon as they heard about Google’s plans to acquire the firm.

Citing concerns about privacy, many were considering the Apple Watch as a safer option than their Fitbit. This is despite the fact that Google explicitly stated in its announcement that it would not sell people’s personal or health information.
Can you trust Google with your health data?
So are people’s concerns valid? Perhaps so. Imagine the power you could, in theory, give to a firm whose search engine has collected all your late-night health related Googling, when it could combine this data with information collected on your Fitbit.

In the end, it comes down to who you trust.
In a brave new world of data, firms such as Google and Facebook base their entire business models around users’ information.
It’s therefore understandable that many users might think about swopping their Fitbit for an Apple Watch, despite the huge increase in price.
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CNBC: Some Fitbit users say they’re getting rid of the devices because they don’t trust Google

guest · Nov 27, 2019

Facebook tried to acquire Fitbit but Google edged it by a small margin
Googlebit might be better for consumers than Facebit
November 27, 2019
https://www.techspot.com/news/82936-facebook-tried-acquire-fitbit-but-google-edged-small.html

In brief: SEC filings show there's been a bidding war between Facebook and Google over Fitbit, which the latter eventually won by a small margin. Fitbit employees seem optimistic about the acquisition, but privacy advocates are still questioning the implications. It's possible that Google and Facebook both wanted to tap into the health data of over 28 million users, as most of the innovation they could bring would be on the algorithms side of the equation.

[...] now an SEC filing shows that Facebook also wanted to acquire the wearable maker. To get an idea of how close it was to succeeding, the social giant's final offer was sitting at $7.30 per share versus Google's $7.35.
In other words, Facebook is the mystery "Party A" that wanted to snap up Fitbit just as much as Google. Also, it looks like the CEOs of the two companies met several times for dinner to discuss the fitness wearable industry and its untapped potential.

In any case, Facebook is no longer interested in bidding for Fitbit. But keep in mind that court filings have shown the social giant leveraged its data policies to gain the upper hand against potential rivals, so Google might just be the better choice.
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guest · Dec 10, 2019

Google’s $2.1B acquisition of Fitbit faces DOJ probe: sources
December 10, 2019
https://nypost.com/2019/12/10/googles-2-1b-acquisition-of-fitbit-faces-doj-probe-sources/

Google’s $2.1 billion acquisition of Fitbit will face scrutiny by the Department of Justice amid data privacy fears, The Post has learned.

The controversial merger in recent days was cleared for review by the DOJ after federal law enforcement tussled with the Federal Trade Commission, which had also sought authority to investigate the deal, according to a source close to the situation.
Both agencies are concerned that a Google-owned Fitbit would give the search giant an even bigger window into people’s private data, including sensitive health information, sources said.

With the DOJ probing the Fitbit deal, a DC antitrust attorney also noted, “There is a more direct line from the White House.”
President Trump has criticized Google for alleged anti-conservative bias. In August, he said he was closely watching the search giant.
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hawki · Feb 12, 2020

"2 Million Fitbit Accounts Were Exposed by Cybercriminals

A user on a well-known hacker community has leaked the emails and passwords of 1,999,999 users of the widely used health and fitness platform Fitbit...

The recently leaked information allows whoever has it to access users’ detailed exercise and fitness data, such as health statistics (blood pressure, heart rate, and so on), training hours, steps walked, walking, jogging and/or cycling history (GPS location, duration, etc.), workout sessions at a local gym, sleep patterns, and more..."

https://hackernoon.com/2-million-fitbit-accounts-was-exposed-by-cybercriminals-aa7u36pj

guest · Feb 20, 2020

EU privacy body warns of privacy risks in Google, Fitbit deal
February 20, 2020
https://www.reuters.com/article/us-...acy-risks-in-google-fitbit-deal-idUSKBN20E1J9

Alphabet Inc-owned (GOOGL.O) Google’s $2.1 billion bid for fitness trackers company Fitbit (FIT.N) could pose privacy risks, the European Data Protection Board (EDPB) warned on Thursday, adding its voice to other critics of the deal.

Fitbit, whose fitness trackers and other devices monitor users’ daily steps, calories burned and distance travelled, would give the U.S. tech giant access to a trove of health data gathered from Fitbit devices.
Such access is worrying, the EU privacy watchdog said.

“The possible further combination and accumulation of sensitive personal data regarding people in Europe by a major tech company could entail a high level of risk to privacy and data protection,” it said.
It urged the companies to assess their data privacy requirements and privacy implications in a transparent way and mitigate possible privacy and data protection risks before seeking EU antitrust approval for the deal.
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guest · Mar 8, 2020

Google/Fitbit review: Privacy IS a competition issue
March 4, 2020
https://voxeu.org/content/googlefitbit-review-privacy-competition-issue

Google/Fitbit involves the acquisition by a giant digital platform – whose business is based on the monetisation of customers’ data through microtargeted ads, and is already sitting on a mountain of personal data and analytics capabilities – of a target with unique data-generating assets in the most sensitive of all areas: capturing biometric data (health, and even emotions) 24 hours a day, every day.

This deal is coming forward against a background of perceived major deterioration in privacy standards, as competition between data collectors has dwindled and users’ attention is now funnelled into very few giant ‘attention brokers’. By now, the notion that privacy is also very much a competition concern has been explicitly recognised in multiple major reports (the Furman et al. report, the Cremer et al. report, the Stigler report and multiple others).
Just as Google today promises that “Fitbit health and wellness ‘personal’ data will not be used for Google ads”, Facebook at the time swore blind they would not exploit WhatsApp data and would monetise the $21 billion by selling emojis – something they actually never did.
So, what are the potential concerns?
We do see concerns about the deal in a number of possible dimensions, all of which recognise the value of personal data and where privacy issues cannot be divorced from the analysis. [...]
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guest · May 13, 2020

European Consumer Group Questions Alphabet's Fitbit Buy
May 13, 2020
https://www.fool.com/investing/2020/05/13/consumer-group-in-europe-raises-questions-about-al.aspx

An EU consumer group is criticizing Alphabet's (NASDAQ:GOOG) (NASDAQ:GOOGL) impending acquisition of Fitbit (NYSE:FIT) on the grounds that the deal won't encourage competition or benefit customers.

In a report, the BEUC called on the European Commission and other regulators to consider the transaction carefully, calling it a "game-changer" in terms of how consumers interact online and how health data is collected and used.

"Google would have every incentive and indeed unique ability to use this data to strengthen its already dominant position in multiple markets, potentially significantly harming competition and thereby reducing consumer choice (including degrading data privacy options), limiting innovation and raising prices," BEUC wrote in the report. "The loss of Fitbit as an independent player eliminates the opportunity of a potential challenger to Google's powerful position."
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guest · Jun 16, 2020

European regulators just set a July 20 deadline to decide whether they will allow Google's Fitbit deal to pass
June 16, 2020
https://www.businessinsider.in/tech...-fitbit-deal-to-pass/articleshow/76408859.cms

EU antitrust regulators have until July 20 to decide whether they will allow Google's Fitbit acquisition to clear.

A filing on the European Commission website reveals that Google sent its request for EU approval this week, with a deadline of July 20 set for regulators to decide whether the merger can pass with or without concessions. The filing was first reported by Reuters.
If regulators don't agree to pass the merger, it will trigger a four-month investigation by the European Commission into the deal.
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guest · Jun 18, 2020

ACCC raises competition concerns about Google's acquisition of Fitbit
June 18, 2020
https://www.zdnet.com/article/accc-raises-competition-concerns-about-googles-acquisition-of-fitbit/

The Australian Competition and Consumer Commission (ACCC) has raised preliminary competition concerns about Google's proposed acquisition of Fitbit.

In a published statement of issues, the ACCC has outlined how Google's access to consumer health data through its acquisition of Fitbit could potentially raise entry barriers and adversely affect competition for digital advertising and health markets.

"Our concerns are that Google buying Fitbit will allow Google to build an even more comprehensive set of user data, further cementing its position and raising barriers to entry to potential rivals," ACCC chair Rod Sims said.
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guest · Jul 2, 2020

Your Objections to the Google-Fitbit Merger
June 25, 2020
https://www.eff.org/deeplinks/2020/06/your-objections-google-fitbit-merger

When Google announced its intention to buy Fitbit in April, we had deep concerns. Google, a notoriously data-hungry company with a track record of reneging on its privacy policies, was about to buy one of the most successful wearables company in the world —after Google had repeatedly tried to launch a competing product, only to fail, over and over.

Fitbit users give their devices extraordinary access to their sensitive personal details, from their menstrual cycles to their alcohol consumption.
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Last month, EFF put out a call for Fitbit owners' own thoughts about the merger, so that we could tell your story to the public and to the regulators who will have the final say over the merger. You obliged with a collection of thoughtful, insightful, and illuminating remarks that you generously permitted us to share. Here's a sampling from the collection: [...]
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guest · Jul 2, 2020

Advocacy groups raise concerns over Google’s $2.1 billion Fitbit bid
July 2, 2020
https://venturebeat.com/2020/07/02/...concerns-over-googles-2-1-billion-fitbit-bid/

Twenty advocacy groups from the United States, Europe, Latin America, and elsewhere signed a statement Wednesday urging regulators to be wary of Google’s $2.1 billion bid for fitness tracker company Fitbit because of privacy and competition concerns.

The 20 organizations — which include the U.S.-based Public Citizen, Access Now from Europe and the Brazilian Institute of Consumer Defense — argued that the deal would expand the already considerable clout in digital markets of Alphabet’s Google.

“Past experience shows that regulators must be very wary of any promises made by merging parties about restricting the use of the acquisition target’s data. Regulators must assume that Google will in practice utilize the entirety of Fitbit’s currently independent unique, highly sensitive data set in combination with its own,” the groups said.
Australian and Canadian groups were among the signatories.
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guest · Jul 9, 2020

Google's Fitbit deal will face EU antitrust probe if no concessions - sources
July 9, 2020
https://business.financialpost.com/...-eu-antitrust-probe-if-no-concessions-sources

Google will face a full-scale EU antitrust investigation into its planned $2.1 billion bid for fitness tracker maker Fitbit unless it offers concessions to address competition concerns, people familiar with the matter said.

Google could allay competition worries by offering a binding pledge to EU competition enforcers along the lines of its promise last year not to use Fitbit’s health and wellness data for Google ads, the people said.
The deadline for Google to offer concessions is July 13.
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guest · Jul 23, 2020

EU demands major concessions from Google over Fitbit deal
European Commission has until August 8th to make decision on deal
July 23, 2020
https://www.irishtimes.com/business...ssions-from-google-over-fitbit-deal-1.4312148

The European Union has demanded that Google make major concessions relating to its $2.1 billion acquisition of fitness-tracking company Fitbit if the deal is to be allowed to proceed imminently, according to people with direct knowledge of the discussions.

Brussels insiders said that a refusal by Google to comply with the new demands would probably result in a protracted investigation, adding that such a scenario could ultimately leave the EU at a disadvantage.

“It is like a poker game,” said a person following the case closely. “In a lengthy probe, the commission risks having fewer or no pledges and still having to clear the deal.”
They added that the discussions over the acquisition were “intense”, and there was no guarantee that any agreement between Brussels and Google would be reached.
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guest · Jul 30, 2020

Google's $2.1 billion Fitbit deal faces EU antitrust probe: sources
July 30, 2020
https://www.reuters.com/article/us-...aces-eu-antitrust-probe-sources-idUSKCN24V1L7

Google’s $2.1 billion bid for fitness tracker maker Fitbit will face a full-scale EU antitrust investigation next week, people familiar with the matter said on Thursday.

Alphabet Inc unit Google this month offered not to use Fitbit’s health data to help it target ads in an attempt to address EU antitrust concerns. The opening of a full-scale investigation suggests that this is not sufficient.
The Commission declined to comment. Google reiterated previous comments, saying the deal is about devices and not data.

“The wearables space is crowded, and we believe the combination of Google and Fitbit’s hardware efforts will increase competition in the sector, benefiting consumers and making the next generation of devices better and more affordable,” a spokeswoman said.
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guest · Aug 4, 2020

Mergers: Commission opens in-depth investigation into the proposed acquisition of Fitbit by Google
August 4, 2020
https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1446

The European Commission has opened an in-depth investigation to assess the proposed acquisition of Fitbit by Google under the EU Merger Regulation.
The Commission is concerned that the proposed transaction would further entrench Google's market position in the online advertising markets by increasing the already vast amount of data that Google could use for personalisation of the ads it serves and displays.

At this stage of the investigation, the Commission considers that Google:

is dominant in the supply of online search advertising services [...] holds a strong market position in the supply of online display advertising services [...] holds a strong market position in the supply of ad tech services in the EEA.

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The Commission will now carry out an in-depth investigation into the effects of the transaction to determine whether its initial competition concerns regarding the online advertising markets are confirmed.
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guest · Sep 23, 2020

EU regulators extend Google, Fitbit deal probe to December 23
September 23, 2020
https://www.gadgetsnow.com/tech-new...probe-to-december-23/articleshow/78279419.cms

EU antitrust regulators have extended their investigation into Alphabet unit Google's fitness tracker maker Fitbit to Dec. 23, the European Commission said on Wednesday.

The EU competition enforcer last month kicked off a full-scale probe into the deal, saying Google's pledge not to use Fitbit's data for advertising purposes was insufficient to address competition concerns.
"The Commission extended the deadline in agreement with the parties," the EU executive said in an email.
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