Pebble helped bring smartwatches to the masses, but the original Kickstarter giant could soon be no more. Sob.
According to insider sources, Pebble is prepared to be taken over by wrist-based fitness tracking giant Fitbit just months after it laid off a quarter of its workforce.
With Pebble facing serious financial issues, including supplier debts of around $25 million (£19.94m), it’s been suggested the wearable firm has been seeking a buyer for some time.
Although reports have yet to be confirmed, Engadget has claimed the takeover could see Fitbit fork out anywhere between $34 million and $40 million (£27m – £32m) in order to acquire the brand.
Related: Pebble 2 review
Despite being a significant sum, this is considerable less than takeover offers Pebble has turned down in the past.
Back in 2015, the company rejected a $740 million offer from Citizen, instead banking on the success of its upcoming Pebble Time Round watch.
When the circular smartwatch failed to hit heady heights, a $70 million offer from Intel was also rejected.
Sadly, this looks set to be the end to Pebble devices. Instead of making use of the firm’s brand standing, Fitbit reportedly wants Pebble in order to make use of its technologies and intellectual properties.
Neither company has as yet commented on the claims.
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A fan of wearables? Would you rather buy a Fitbit or a Pebble? Let us know in the comments.
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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.
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.