New report suggests Fitbit tried to buy Jawbone last year
The world of dedicated fitness trackers is rough, which is why it’s no surprise to learn that Fitbit tried to buy Jawbone last year. Fitbit and Jawbone are currently locked in a legal dispute and Fitbit offered to acquire Jawbone’s assets and settle those legal troubles, but the company felt that Fitbit’s offer was much too low to go through with the deal.
The report states that Jawbone was valued at $1.5 billion at the beginning of last year, but Fitbit only offered the company a fraction of that. Legal trouble between the two companies has only heated up since then, with Jawbone losing out on a patent dispute in May but prevailing in a similar suit in July. Jawbone has accused Fitbit of attempting to bleed the company dry through litigation.
Fitbit has been on an acquiring spree lately, shocking the tech community last year in December when it was reported that Fitbit had purchased Pebble for $40 million. Fitbit promptly canceled the Pebble Time 2 and the Pebble Core, disappointing a legion of loyal Pebble fans. The company has pledged to offer support to Pebble devices through 2017, but many Pebble backers and fans remain unconvinced. Fitbit also acquired Vector earlier this year, which also produced eInk wearables.