Tech
Fitbit to buy troubled Pebble, rid of brand: Report
Fitbit will reportedly shutter the Pebble brand, as both fitness band companies have seen a decline in sales. The Apple Watch and Android Wear effect is beginning to kick in.
(Image: file photo)
Fitbit is near a deal to acquire Pebble, a troubled fitness band and smartwatch maker, according to The Information.
It's not clear how much fitness band industry leader Fitbit will pay for Pebble. Earlier this year, Pebble laid off a quarter of its workforce.
The Information reported Pebble's product will be shutdown over time. Fitbit will gain Pebble's intellectual property and other assets.
Both companies have been struggling, as the fitness band industry has seen a slow down in sales. Research firm IDC reported last quarter smartwatch shipments saw a "significant" decline. The Apple Watch and Android Wear offerings have begun to take over.
A Fitbit spokesperson declined to comment.