Fitbit (FIT) to Acquire Rival Pebble for a Mere $40M - Report

December 1, 2016 8:39 AM EST

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Fitbit (NYSE: FIT) is fractionally higher (+1%) in pre-open trade Thursday amid reports it will acquire rival Pebble for between $34-$40 million, or just enough to cover debts. TechCrunch reported the price after following-up on the story first reported by The Information. The Information didn't report the price only saying it was a 'small amount.'

TechCrunch said in 2015 watch maker Citizen was interested in buying Pebble for $740 million, The deal fell apart and it made a $70 milion offer before the launch of the Pebble 2 Intel.

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