Fitbit considers whether it should explore a sale

guest · Sep 29, 2020

Update: Approval Expected] EU to launch investigation into Google’s Fitbit acquisition
September 29, 2020
https://www.xda-developers.com/eu-launch-investigation-google-fitbit-acquisition/

Update 1: Approval of Google, Fitbit deal expected
According to sources speaking to Reuters, Google’s $2.1 billion purchase of Fitbit is on track to receive approval from the EU.

In a statement, Google told the publication that it had offered to restrict the use of health data for ads and would strictly monitor the use of that data. “We’re also formalizing our longstanding commitment to supporting other wearable manufacturers on Android and to continue to allow Fitbit users to connect to third party services via APIs (application programming interfaces) if they want to,” a Google spokesperson told Reuters.
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guest · Oct 16, 2020

EC pushes Google, Fitbit decision to 2021
October 16, 2020
https://www.mobileworldlive.com/devices/news-devices/ec-pushes-google-fitbit-decision-to-2021

The European Commission (EC) again postponed the deadline for completing an investigation of Google’s proposed $2.1 billion acquisition of Fitbit, targeting a decision in early 2021.

An update to the EC’s case file set 8 January as the new date for issuing its decision, its second rescheduling of a decision originally due on 9 December.
Reuters noted extensions are often granted at the request of the companies being investigated.
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guest · Oct 31, 2020

Google CFO expects Fitbit acquisition to clear by end of year
October 30, 2020
https://indianexpress.com/article/t...-acquisition-to-clear-by-end-of-year-6909935/

Alphabet Inc Chief Financial Officer Ruth Porat said the company anticipates its bid for Fitbit Inc will be completed this year, despite extensive regulatory probes of the deal and a major antitrust case by the US government.

“We do still expect we are going to receive the necessary regulatory approvals to hopefully complete the transaction before the end of this year,” Porat said in an interview with Bloomberg Television. “But the time frame may extend beyond that.”
Google has previously said it planned for the Fitbit deal to close in 2020. On Wednesday, Fitbit said in a filing that the completion date for the merger was extended until February of 2021.
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guest · Nov 27, 2020

No Google-Fitbit merger without human rights remedies, says Amnesty to EU
November 27, 2020
https://techcrunch.com/2020/11/27/n...out-human-rights-remedies-says-amnesty-to-eu/

Human rights NGO, Amnesty International, has written to the EU’s competition regulator calling for Google’s acquisition of wearable maker Fitbit to be blocked — unless meaningful safeguards can be baked in.

The tech giant announced its intent to splash $2.1BN to acquire Fitbit a year ago but has yet to gain regulatory approval for the deal in the European Union.
In a letter addressed to the blocs competition chief, Margrethe Vestager, Amnesty writes:

“The Commission must ensure that the merger does not proceed unless the two business enterprises can demonstrate that they have taken adequate account of the human rights risks and implemented strong and meaningful safeguards that prevent and mitigate these risks in the future.”
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In a report last year the NGO attacked the business model of Google and Facebook — arguing that the “surveillance giants” enable human rights harm “at a population scale”.
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Amnesty International: EU Commission assessment of the Google-Fitbit merger must include human rights risks

I am writing to you to raise Amnesty International’s serious concerns over Google’s planned takeover of the wearables company Fitbit. The merger risks further extending the dominance of Google and its surveillance-based business model, the nature and scale of which already represent a systemic threat to human rights. The deal is particularly troubling given the sensitive nature of the health data that Fitbit holds that would be acquired by Google.
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guest · Nov 30, 2020

ACCC soliciting feedback regarding Google's acquisition of Fitbit
November 30, 2020
https://www.neowin.net/news/accc-soliciting-feedback-regarding-googles-acquisition-of-fitbit

Back in November 2019, much to everyone's surprise, Google announced that it is buying wearable manufacturer Fitbit in a deal valued at $2.1 billion.
Now, regulatory authorities such as the Australian Competition and Consumer Commission (ACCC) are also looking into the deal.

As spotted by ZDNet, the Australian watchdog has published draft undertakings submitted by Google and is now soliciting feedback from interested parties among the general public. The undertaking - which can be enforced by the court - restricts Google from utilizing user data harvested from Fitbit and future wearables developed by the company for its own advertising purposes for 10 years
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The undertaking is meant to restrict potential anti-competitive behaviour from Google, and to stop it from utilizing user data gained from this acquisition to enhance its targeted advertising capabilities. The ACCC is soliciting feedback about the undertaking from interested parties until December 9, 2020.
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guest · Dec 5, 2020

Google Set to Win EU Approval for Fitbit Takeover Next Week
December 3, 2020
https://www.bloomberg.com/news/arti...win-eu-approval-for-fitbit-takeover-next-week

Google is set to win conditional European Union approval for its $2.1 billion takeover of health tracker Fitbit Inc. this month, people familiar with the discussions said.

The deal could be approved as soon as next week after national competition authorities give their opinion, said the people who asked not to be named because the procedure isn’t public. The EU usually consults the so-called advisory committee on mergers days before it issues approval.
Both Google and the EU declined to immediately responded comment. The EU currently has a Jan. 8 deadline to rule on the deal.
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guest · Dec 17, 2020

EU clears Google takeover of Fitbit, with conditions
December 17, 2020
https://apnews.com/article/health-88872828573b0ee3052fb3d3d3976c9e

The European Union on Thursday approved Google’s plan to buy fitness gadget maker Fitbit for $2.1 billion after it promised to restrict user data and ensure Android phones work with other wearable devices for at least 10 years.
The EU’s competition commissioner, Margrethe Vestager, said she approved the deal because Google’s commitments “will ensure that the market for wearables and the nascent digital health space will remain open and competitive.”
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guest · Dec 22, 2020

Australian regulator delays decision on Google-Fitbit merger
December 22, 2020
https://techxplore.com/news/2020-12-australian-decision-google-fitbit-merger.html

Australia's competition regulator on Tuesday delayed for three months its decision on Google's plan to buy fitness gadget maker Fitbit for $2.1 billion despite the European Union giving conditional approval to the deal.

"We are not satisfied that a long term behavioral undertaking of this type in such a complex and dynamic industry could be effectively monitored and enforced in Australia," ACCC Chair Rod Sims said in a statement.
"The ACCC continues to have concerns that Google's acquisition of Fitbit may result in Fitbit's rivals, other than Apple, being squeezed out of the wearables market, as they are reliant on Google's Android system and other Google services to make their devices work effectively," he added.

The ACCC would continue its investigation and set March 25 as its decision date, he said.
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guest · Jan 14, 2021

Google tries to allay Fitbit-deal privacy fears
January 14, 2021
https://www.bbc.co.uk/news/technology-55662659

Google has completed its acquisition of Fitbit and tried to reassure users it will protect their privacy.
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guest · Jan 14, 2021

Google says it’s closing the Fitbit acquisition—uh, without DOJ approval?
January 14, 2021
https://arstechnica.com/gadgets/202...-acquisition-pledges-to-not-use-data-for-ads/

Google's senior VP of Hardware, Rick Osterloh, announced Thursday that Google has closed its acquisition of Fitbit. The $2.1 billion deal was announced back in November 2019 and kicked off a regulatory review process from governments around the world concerned about Google's influence over the Internet and the data it can collect on users.

When asked about the status of the DOJ's merger investigation, a Google spokesperson told Ars, "We complied with the DOJ's extensive review for the past 14 months, and the agreed-upon waiting period expired without their objection. We continue to be in touch with them and we're committed to answering any additional questions. We are confident this deal will increase competition in the highly crowded wearables market, and we've made commitments that we plan to implement globally."
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However the legal issues work out, the announcement doesn't give away a lot about Google's future plans for Fitbit.
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