Fitbit Acquires Pebble's Software Assets: What Happens to Smartwatch Business Remains a Mystery

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The American smartwatch developer and smartwatch pioneer since 2012, Pebble Smartwatch decides to turn down its business. Well, the reason behind the decision has not been stated as of now. However, the company has not completely washed off its presence as Fitbit, a manufacturer of wireless-enabled wearable technology products decides to acquire Pebble's software and firmware developments.

Fitbit Acquires Pebble's Software Assets: Everything You Should Know

Pebble Smartwatch has been among the early developers of smartwatches in the country and has been raising money on the Kickstarter crowdfunding platform.

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Being among the early makers of connected watches, Pebble has been among the most successful smartwatch manufacturers and has a record of selling nearly 2 million wearable devices ever since the company's inception in 2012. Although the journey has not been too long, Pebble surely made a big name in a very short span of its existence in the market.

However, it is on Wednesday, December 7 that Pebble announced that it has plans to shut down. Well, the smartwatch giant isn't completely leaving the market as it will now be acquired by Fitbit. Hence there will be no products by Pebbles that will hit the market any longer.

Fitbit Acquires Pebble's Software Assets: Everything You Should Know

Pebble has earlier declared to launch two new products including Pebble Time 2 and Pebble Core smartwatches. Well, these products will no longer hit the wearable market while the further fulfillment of Pebble 2 orders will cease as well as the refunds will be issued to Kickstarter crowdfunding backers at the earliest.

Talking about Fitbit's acquisition, the company has not taken over Pebble completely, but has just acquired specific assets including key personnel and intellectual property like the software and firmware development, but not the company's hardware business.

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The key goal behind the acquisition is based on the idea that as wearables are getting smarter and smartwatches are adding health and fitness capabilities, this gives the company enough advantage and capability to build on their strengths and extend the company's leadership position in the wearables market.

Fitbit Acquires Pebble's Software Assets: Everything You Should Know

According to reports, Fitbit's official asserts that with this acquisition the company will accelerate the expansion of their platform and ecosystem to make Fitbit a vital part of daily life for a wider set of consumers. Hence, in the upcoming future, the smartwatches hitting the market can be expected to come with added fitness measure and features with the key aspect to improving the users' health condition.

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