Recent times haven’t been too kind for Pebble, a kickstarted company that garnered attention back in 2012 due to its enticing smartwatch offerings. Back when smartwatches were still something new and intriguing, Pebble conducted a very successful campaign on Kickstarter, resulting in the brand’s presence on the smartwatch market.
As time progressed, Pebble started to drift more and more into the fitness spectrum of wearable tech, implementing features that focus on health tracking and fitness activities like the heartbeat monitor. Competitors arose, and slowly but surely, Pebble began decreasing in popularity against the likes of Fitbit.
Getting back to present times, Fitbit will be purchasing Pebble. This information started out as a rumor which later solidified into fact, being confirmed by various sources including The Verge. Those close to the parties involved were able to confirm that Fitbit and Pebble are close to striking a deal which would involve the former buying out Pebble. Although there are no numbers flying around as of yet, sources claim that the transaction specifics that the two would be shaking hands upon can be classified as low, meaning that Fitbit would be acquiring Pebble without a big strain on their finances.
Pebble had been already making changes to acclimate to their bad financial situation, as 25% of their staff had to be laid off. While this decision must not have been easy for Eric Migicovsky, who acts as CEO for the company, it only shows the kind of situation they were facing.
Rumors suggest that Fitbit isn’t looking to maintain the Pebble brand name and that it will only be using the freshly acquired intellectual property. Instead of a revamped Pebble smartwatch, we might be seeing a new Fitbit smartwatch that runs on Pebble’s operating system which is one of the main properties included in the transaction.