Trusted Reviews is supported by its audience. If you purchase through links on our site, we may earn a commission. Learn more.

Fitbit’s acquisition of Pebble to kill the Pebble Time 2 and Pebble Core – report

Fitbit definitely looks set to aquire former Kickstarter darling Pebble, according to a new report, but the buy out is focussed on snaffling the firm’s software assets, not its hardware – meaning the Pebble Time 2 and Pebble Core are dead in the water.

Citing “people familiar with the matter,” Bloomberg has revealed that the deal is now “close” to being finalised, after rumours of the takeover first surfaced last week.

It’s thought that the transaction will see Pebble snapped up for just $40 million (about £31m), with Fitbit said to be most interested in acquiring the start-up’s software assets, including its smartwatch operating system and apps, as well as its cloud services.

Related: CES 2017

Job offers are thought to be have made to approximately 40% of Pebble’s staff, most of whom are believed to be software engineers.

One immediate consequence of the buy out is that development of Pebble hardware will stopped, so the nascent Pebble Time 2 and Pebble Core watches are essentially being killed off.

The two wearables recently smashed their Kickstarter target and were expected to start shipping in January 2017, but according to the report’s sources, refunds will now be issued to backers instead.

Pebble has yet to update its Kickstarter or pre-order page, presumably because the acquisition hasn’t been formally announced.

Feeling a tad Machiavellian? One likely silver lining for consumers is that we can now expect to see a fire sale on existing Pebble smartwatches in the very near future.

Related: Best smartwatches

WATCH: Wearables buying guide

Did you back the Pebble Time 2 or Pebble Core? Sound off in the comments below.

Why trust our journalism?

Founded in 2003, Trusted Reviews exists to give our readers thorough, unbiased and independent advice on what to buy.

Today, we have millions of users a month from around the world, and assess more than 1,000 products a year.

author icon

Editorial independence

Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.

author icon

Professional conduct

We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.

Trusted Reviews Logo

Sign up to our newsletter

Get the best of Trusted Reviews delivered right to your inbox.

This is a test error message with some extra words