Google to Acquire Fitbit for $2.1 Billion

According to an article from the Wall Street Journal, Google is set to acquire Fitbit for $2.1 billion.

This represents Google's next move into the wearables market, a space where Apple (with its watches and AirPods) reported 54% growth in the last quarter but Google has struggled to gain traction in the past.

For obvious reasons, the multitudes of data collected on wearables is enticing for digital marketers and tech companies, but also has its risks.

In my opinion, this is a positive move for Google. I do not believe that this is a "winner takes all" market, and has plenty of room for multiple players. Investing in better devices that integrate just as easily into the Android universe as they do iOS will help bolster Google's search and mobile businesses. And while I have seen differing estimates on the projected growth of the wearables industry, nobody seems to doubt that it will grow significantly in the next few years.