The rumors are true: Fitbit is buying Pebble.
Both Fitbit and Pebble confirmed the acquisition today, with Pebble explaining that it “due to various factors, Pebble can no longer operate as an independent entity.” This means that Pebble is ending all hardware operations and will no longer manufacture or sell new smartwatches.
Pebble says that all Pebble 2 watches from its most recent Kickstarter campaign have shipped. However, the Pebble Time 2, Pebble Core, and Pebble Time Round Kickstarter Edition will not go into final production. Anyone that backed those devices on Kickstarter will receive a refund by March 2017.
As for anyone that currently has a Pebble, those smartwatches will continue to work for now. Pebble does caution that functionality may be reduced in the future, though, and the company doesn’t plan on releasing any new updates or features to its devices. Pebble adds that it’s working on reducing its smartwatches’ reliance on the cloud so that they can work on their own in the future.
Details of this transaction aren’t known, but Fitbit does say that it is acquiring “specific assets” of Pebble. That includes the key personnel and intellectual property related to Pebble’s software and firmware development.
This acquisition is big news for the wearables space. Pebble made waves when its original Kickstarter earned $10.2 million in 2012, and since then, the company has churned out software updates and some new hardware. However, Pebble has been facing some stiff competition lately from Samsung, Apple, Google, Fitbit, and others, and while it has a dedicated community, the company failed to gain enough traction to continue operating on its own.
What do you make of this acquisition? If you have a Pebble, will you continue to wear it?