Google Acquires Fitbit for $2.1 Billion

Cleary Gottlieb is representing Google LLC in its acquisition of Fitbit, Inc. (NYSE: FIT) for $7.35 per share in cash, representing a total equity value of approximately $2.1 billion.

The transaction signed on October 31, 2019, and was announced on November 1, 2019. The transaction is expected to close in 2020, subject to receipt of regulatory approvals and other customary closing conditions.

Fitbit pioneered the wearables category by delivering innovative, affordable, and engaging devices and services. Fitbit has sold more than 100 million devices and supports an engaged global community of millions of active users, utilizing data to deliver unique personalized guidance and coaching to its users.

For more information, please see the official announcements here and here.