TechCrunch: ‘Fitbit Is Buying Troubled Smartwatch Maker Pebble for Around $40 Million’

Jon Russell, reporting for TechCrunch:

A source close to the company told TechCrunch that watch maker Citizen was interested in purchasing Pebble for $740 million in 2015. This deal failed and before the launch of the Pebble 2 Intel made an offer for $70 million. The CEO, Eric Migicovsky refused both offers. Our source said that Fitbit is now paying between $34 and $40 million for the company and is “barely covering their debts.”

If Citizen was really willing to pay $740 million for Pebble, that’s incredible. They really dodged a bullet on that one.

★ Friday, 2 December 2016